Nifty is expected to open flat to a bit negative, but the very short term the momentum is strong and could go to 6140 in spot, but the immediate resistance is at 6100 - 6110. On the downside 6040 is key level for this momentum to continue. If this level breaks we could test 5975.
With the expected results of some of the companies being anounced we could see these stocks moving either way and it is better to play based on levels in these stocks. IIP numbers are bad and also US is still facing issues without its deadline. We expect USDINR to be flat and looking for clues for further move.
Pivot Levels to be watched
Nifty - S3 - 5998, S2 - 6022, S1 - 6059, P - 6083 R1 - 6120 R2 - 6144 - R3 - 6181
Bank Nifty S3 - 10062, S2 -10185, S1 - 10403 - P - 10526, R1 - 10745 R2 - 10867 R3 - 11086
Stocks for the day
Heromotors
JindalSteel
Bajaj Auto
Kotak bank
Bharti
Cairn
BharatForge
Asian Paints
Please check my previous blog http://letstradeforprofit.blogspot.in/2013/10/weak-ahead-oct-13-18.html for weekly levels of index , stocks and also major events which could impact market movement
With the expected results of some of the companies being anounced we could see these stocks moving either way and it is better to play based on levels in these stocks. IIP numbers are bad and also US is still facing issues without its deadline. We expect USDINR to be flat and looking for clues for further move.
Pivot Levels to be watched
Nifty - S3 - 5998, S2 - 6022, S1 - 6059, P - 6083 R1 - 6120 R2 - 6144 - R3 - 6181
Bank Nifty S3 - 10062, S2 -10185, S1 - 10403 - P - 10526, R1 - 10745 R2 - 10867 R3 - 11086
Stocks for the day
Heromotors
JindalSteel
Bajaj Auto
Kotak bank
Bharti
Cairn
BharatForge
Asian Paints
Please check my previous blog http://letstradeforprofit.blogspot.in/2013/10/weak-ahead-oct-13-18.html for weekly levels of index , stocks and also major events which could impact market movement
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