Nifty opened just below previous days close and made a high of 6317, but ultimately closed at 6282 which is just above previous days close. We ave seen volatality in last one hour and it seems it was facing resistance at 6300 levels whole day. FII's were silent probably because they have done their shopping last week as they will be in holiday.
Shortterm Trend
Nifty closing 6280 is a good sign even though we are not seeing strength in Nifty to move above previous highs in few days, but we cannot rule out it getting past highs. There is no convincing indication for Nifty to go to higher levels and it may trade with volatality as we are near expiry. I am sticking to what I said yesterday that as long as we are above 6280 we could see levels of 6340 and 6400 and below 6260, 6200 and 6160 is very much possibility.
Intraday Trend
Nifty could open with positive bias and as long as it trades above 6290 we could see levels of 6305, 6320 and 6335 and below 6260 we could see 6245 and 6230. Suggest to trade in high beta stocks especially Banking sector which will give good results. Yesterday we have almost all met 6320 which is our second target.
Top picks for the day
My top pics for the day are TechM, Maruti, Lupin, Auro Pharma and Asian Paint. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot Levels for Indices and key stocks
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