Nifty opened at 6062 and made a high of 6074 which happens to be high of the day of the day and low it has made is 6030 and Nifty ended a tad lower for the day compared to previous day in what was a lacklustre trading session. Biggest mover of the day was TataMotors which has closed just below 400 is the leader yesteraday and not much is there to discuss other than that.
ShortTerm Trend
The market may remain volatile today, as traders roll over positions in the futures & options (F&O) segment from current to next mont December 2013 series. India VIX was still above 21 which is not a good sign. Trend is still down as we are below key resistance level of 6060 for second day. As of now 6040 is holding despite many efforts of Nifty since two days. Trend will be decided only if Nifty closes below 5972 or above 6161 for any decisive move.This month we have seen alltime high 6342 of and low of 5972.
Intraday
Nifty could open higher and I feel nothing can be taken granted as we are going to have choppy market being expiry. Yesterday I told if Nifty moves below 6047 we could go to 6032 and it did and I still feel we are going remain in same range as today happens to be expiry and no one will carry their position for too long till last hour. Suggest not avoid trading in Nifty till you see a compelling reason and Yesterday levels of trade below 6047 to 6032, 6017 and 6000 and above 6080 can go to 6095 and 6110 will remain valid for today also.
Must trades for the day
I am expecting Tata Motors,Axis Bank, Biocon, BPCL,Idea & JSWSteel to do well. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of Key Stocks and Index for the day
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