The day that was yesterday
DII has actively sold this market while FII has reduced their buying intensity. Indian market has turned nervous in the fear of rollover of QE sooner than expected as US data has seen remarkable improvement. This is turning a reason for weakness in Indian rupee too. Yesterday Nifty opened gap down to 6100 levels and was in this range till 12 PM and started it up move towards key resistance area 6140 and has reversed and triggered my sell at 6121 as stated in my previous post and closed at 6080 which is my target.
Trend of the Market
Nifty was still drifting down and is now at key support area at 6075-80 levels and it is the last hope. If this breaks we may see levels of 6020 levels which is 50 day EMA. I see 6010 - 6020 as strong support and below this level we can see we are in medium bear market from short term bear market.
Intraday Levels
Technical support of 6080 has already broken in a soft way. I am not optimistic for today. A dip is likely to come. I like to see if come sign of revival come during trading session, else prepare to see levels of 6010 levels. Below 6068 in Spot we could see Nifty going tp 6050 and 6035 and on the higher side above 6100 we could see 6113 and 6124.
Must trades for the Day
Yesterday my must trades did very well and I am expecting DLF, Lupin, Zeel and Jindal Steel to do well either way. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot Levels for some of the stocks which could be traded
DII has actively sold this market while FII has reduced their buying intensity. Indian market has turned nervous in the fear of rollover of QE sooner than expected as US data has seen remarkable improvement. This is turning a reason for weakness in Indian rupee too. Yesterday Nifty opened gap down to 6100 levels and was in this range till 12 PM and started it up move towards key resistance area 6140 and has reversed and triggered my sell at 6121 as stated in my previous post and closed at 6080 which is my target.
Trend of the Market
Nifty was still drifting down and is now at key support area at 6075-80 levels and it is the last hope. If this breaks we may see levels of 6020 levels which is 50 day EMA. I see 6010 - 6020 as strong support and below this level we can see we are in medium bear market from short term bear market.
Intraday Levels
Technical support of 6080 has already broken in a soft way. I am not optimistic for today. A dip is likely to come. I like to see if come sign of revival come during trading session, else prepare to see levels of 6010 levels. Below 6068 in Spot we could see Nifty going tp 6050 and 6035 and on the higher side above 6100 we could see 6113 and 6124.
Must trades for the Day
Yesterday my must trades did very well and I am expecting DLF, Lupin, Zeel and Jindal Steel to do well either way. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot Levels for some of the stocks which could be traded
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