Nifty made a huge rally on Monday based on BJP's thumping win in three states and FII's have pumped in 2400 crores, DII's were sellers of 1200 crores and Nifty opened above 6400 and made a high of 6415 which happens to be highest for the day and closed at 6363 which is above highest ever close for Nifty. We have seen huge delivery based buying in most of the Nifty heavies except Jindal Steel.
Shorterm Trend
Nifty has confirmed all Short, Medium and long term term uptrend and Nifty seems to be heading towards 6700 which may happen in next 2 -3 months as I have pointed before as per my head and shoulder formation in Nifty when it has recovered from its low of 5100 two and half months back. Nifty should cross 6415 which happens to be imediate resitance to make a move to 6500 and lower side below 6240 we could see 6160 and 6000 for short term. We have also seen India VIX coming to 19 levels which is very good and at 18 we could see more buying in market.
Intraday
We could have decent opening above yesterdays close and for the day Nifty above 6375 could move Nifty to 6390, 6405 and 6420 and lower side Nifty below 6345 could go to 6330 and 6315. I would not trade in Nifty for today and may be tomorrow, but would prefer to trade in stocks where I see good opportunities.
Stocks for the day
Top pics for the day are ICICIBank, Hindalco, Divis, HCLTech and DLF. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of Key stocks
Shorterm Trend
Nifty has confirmed all Short, Medium and long term term uptrend and Nifty seems to be heading towards 6700 which may happen in next 2 -3 months as I have pointed before as per my head and shoulder formation in Nifty when it has recovered from its low of 5100 two and half months back. Nifty should cross 6415 which happens to be imediate resitance to make a move to 6500 and lower side below 6240 we could see 6160 and 6000 for short term. We have also seen India VIX coming to 19 levels which is very good and at 18 we could see more buying in market.
Intraday
We could have decent opening above yesterdays close and for the day Nifty above 6375 could move Nifty to 6390, 6405 and 6420 and lower side Nifty below 6345 could go to 6330 and 6315. I would not trade in Nifty for today and may be tomorrow, but would prefer to trade in stocks where I see good opportunities.
Stocks for the day
Top pics for the day are ICICIBank, Hindalco, Divis, HCLTech and DLF. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of Key stocks
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