Yesterday I was expecting some support as it is at key support area of 6075 area, but after decent openining Nifty was not able to sustain levels and went below the key support area 6075-80 levels which is the last hope and it met my target of 6020 levels which is again a good support area.FIIs are silent and DII have sold heavily and this is the 8th from its recent high of 6348.Indian VIX is near to 21 which is a not a good news.
Trend of the Market
Infact we are at a very good support area which could be a trend reversal for the market as it will set the medium trend of the market a stated in my previous blog, but With more bad news because of bad IIP and CPI data, I am expecting more pain as we could open lower and next support area is 5960 - 70 levels. Earlier all these bad news were ignored in uptrend. If Nifty was not able to take support at this area we could see further downside to 5920 area. But if Nifty reaches this level I am positional buyer as I dont see any more downside and is a very strong support area.
Intraday Trend
Nifty is expected to open down as indicated because of bad news and also dollar getting stronger for today Nifty below 6000 we could see 5985, 5970, 5955 and on the upside above 6030 we could see 6045, 6065 and 6080. But be prepared for bounce back from lows and suggest to trade with caution.
Must Trades for the day
Yesterday my must trades did very well and I am expecting DLF, LT, Canara Bank and IndusInd Bank to do well either way. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key stocks
Trend of the Market
Infact we are at a very good support area which could be a trend reversal for the market as it will set the medium trend of the market a stated in my previous blog, but With more bad news because of bad IIP and CPI data, I am expecting more pain as we could open lower and next support area is 5960 - 70 levels. Earlier all these bad news were ignored in uptrend. If Nifty was not able to take support at this area we could see further downside to 5920 area. But if Nifty reaches this level I am positional buyer as I dont see any more downside and is a very strong support area.
Intraday Trend
Nifty is expected to open down as indicated because of bad news and also dollar getting stronger for today Nifty below 6000 we could see 5985, 5970, 5955 and on the upside above 6030 we could see 6045, 6065 and 6080. But be prepared for bounce back from lows and suggest to trade with caution.
Must Trades for the day
Yesterday my must trades did very well and I am expecting DLF, LT, Canara Bank and IndusInd Bank to do well either way. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key stocks
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