Outlook for the day
Yesterday Nifty was in 6185 - 6220, but closed just below the previuos days close and as the market is in a range since last 2days in this week after a huge rally which is normal in a trending market, but this is frustrating to many who are looking for the magic figure. Normally this consolidating is good for the market for next major mov and many were sitting in sidelines for the Nifty to move above 6240 or come below 6160 for any further action. DII's were still selling and yesterdays figure is more than what FII's have bought yesterday. The FII's figure is less than what they have bought since last one week.
Intraday Strategy
NIFTY may open positive to flat for third consecutive and looking for clues and leadership. this is frustrating movement and need lot of patience. It can just confuse for direction. I am still considering 6221 – 6240 as stiff technical resistance. In lower side, it will get support at 6150-6160 levels. Which side will it break? It is better to go for wait and watch mode. At least I doing that and is not in a hurry for trade. Bank Nifty is also looking good and is a better trade in Index.
Pivot Levels for the day
For exact levels to trade above securities contact vijaykumarrao.invest@gmail.com
Yesterday Nifty was in 6185 - 6220, but closed just below the previuos days close and as the market is in a range since last 2days in this week after a huge rally which is normal in a trending market, but this is frustrating to many who are looking for the magic figure. Normally this consolidating is good for the market for next major mov and many were sitting in sidelines for the Nifty to move above 6240 or come below 6160 for any further action. DII's were still selling and yesterdays figure is more than what FII's have bought yesterday. The FII's figure is less than what they have bought since last one week.
Intraday Strategy
NIFTY may open positive to flat for third consecutive and looking for clues and leadership. this is frustrating movement and need lot of patience. It can just confuse for direction. I am still considering 6221 – 6240 as stiff technical resistance. In lower side, it will get support at 6150-6160 levels. Which side will it break? It is better to go for wait and watch mode. At least I doing that and is not in a hurry for trade. Bank Nifty is also looking good and is a better trade in Index.
Pivot Levels for the day
For exact levels to trade above securities contact vijaykumarrao.invest@gmail.com
No comments:
Post a Comment