As stated in yesterdays blog I clearly mentioned that Nifty will open positive bias and is unlikely to sustain at these levels. Nifty opened above 6161, but unable to stay at these levels and as stated before below 6134 it went to 6119, 6103 and came near to 6097 which is the low for the day. We have seen profit booking and bears were slowly gaining strength and are ready to move the market to levels of 6040 and also to 6000 which can not be ruled out.
Intraday Levels
Nifty is expected to open flat to positive bias, but real actions starts after 11 AM as we have key event today of RBI coming up with policy which market was expecting raise of 25 basis points and any positive or negative surprise(50 basis high) could move the market swiftly and so suggest traders to keep away from market till then and take a call based on levels. Nifty is strong above 6134 for 6161, 6193 and weak below 6090 for 6070 and 6040 levels.
The real action will be in BankNifty, Banking and other rate sensitive stocks. I am sure you will get lot of opportunities after policy was announced and suggest to trade with proper levels. What ever will happen I am expecting half glass empty which is I am biased towards downside because people are waiting to book profits since long in many stocks which have run a lot.
Pivot Levels for the day
For exact levels to trade above securities contact vijaykumarrao.invest@gmail.com
Intraday Levels
Nifty is expected to open flat to positive bias, but real actions starts after 11 AM as we have key event today of RBI coming up with policy which market was expecting raise of 25 basis points and any positive or negative surprise(50 basis high) could move the market swiftly and so suggest traders to keep away from market till then and take a call based on levels. Nifty is strong above 6134 for 6161, 6193 and weak below 6090 for 6070 and 6040 levels.
The real action will be in BankNifty, Banking and other rate sensitive stocks. I am sure you will get lot of opportunities after policy was announced and suggest to trade with proper levels. What ever will happen I am expecting half glass empty which is I am biased towards downside because people are waiting to book profits since long in many stocks which have run a lot.
Pivot Levels for the day
For exact levels to trade above securities contact vijaykumarrao.invest@gmail.com
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