Since the last week Nifty was finding support at 5800 levels which is also 200 DMA and it was not able break down from these levels, with the expected events globally and domestically in few days awaited it is on expected linse, but we will see clear trend in few days. If Nifty breaks 5800 in the side we could see immediate support at 5740 levels and if we see a gap down even further down based on news 5700 should be a major support. On the higher side 5950 is a major resistance.
USDINR is expected to move up again to levels of 65 which is again a bad news for the market.Nifty is expected to be in a side ways for today and do not suggest any trade in Nifty futures till we get a clear trend which we will get by tomorrow. With early indication of SGX nifty trading flat I feel we must wait for atleast 30 till we get intraday trend in stocks and trade
Trade with caution
Stocks for the Day
DrReddy
HCLTech
BharatForge
Maruti
RelInra
ITC
Asian Paints
USDINR is expected to move up again to levels of 65 which is again a bad news for the market.Nifty is expected to be in a side ways for today and do not suggest any trade in Nifty futures till we get a clear trend which we will get by tomorrow. With early indication of SGX nifty trading flat I feel we must wait for atleast 30 till we get intraday trend in stocks and trade
Trade with caution
Stocks for the Day
DrReddy
HCLTech
BharatForge
Maruti
RelInra
ITC
Asian Paints
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