Nifty opened at 6197 above yesterdays close and was in a range for most of the day. Made a low of 6184 and high was 6212.Nifty closed at 6203 with a gain of 14 points. Key data to be observerd is FIIs bought 1.15 lakhs of Nifty futures mostly longs and were short in puts. They were still buying in tons which is indication for further strength in the marekt but may see pull back before further move.
Shortterm Trend
Global market give us a sign of cooling off very sooner as even Dow has been in very narrow after reaching high which is expected. Asian market is trading soft this morning . It is important for Nifty to trade above 6193 for 6240 which is my short term target. Nifty closing above 6187 for second day is a good sign and it shows strength in market. If Nifty can trade above this level we could see 6250,6270 and 6290 and if Nifty moves below 6160 which is a strong support area we could see Nifty going to 6140, 6116 and 6100. Rupee getting stronger and key resistance area is 63.
Intraday Levels
Today Nifty could open weak below yesterdays close as we are seeing some cool off and Nifty could face intraday resistance at 6210 on the highere side and stay for 10 mins above this for 15 mins is a clear buy, it failed to do so yesterday and could go to 6227 and 6240 and lower side if trades below 6170 we could see 6155 and 6140.
Must Trades for the day
Yesterday all my pics have done very well expect Asian Paints which did not move much but may move today. I am expecting Asian Paint, Zeel, HDFCBank, HCL Tech,Jubl Food and Auro Pharma to do well. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key stocks
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