Nifty edged lower, snapping their two-day winning streak even The market breadth, indicating the overall health of the market, was positive. on Tuesday Nifty opened above Mondays close and was trading in a range but slided later because of not much activity by market particepents but closed at 6268. FII's were not participating much because of holiday and we may see some action after expiry
Shortterm Trend
Nifty was closing below 6280 and is bit weak and I dont read much into it as we are towards expiry and holidays. The key is Nifty should trade above 6280 for 6345 and 6400. The key is Nifty should cross 6350 again convincingly to move all time highs which is not looking likely very shortly. In the lower side 6160 is key to be watched to move to 6080 and 6000 levels.
Intraday
Nify will remain range bound and expect not much movement being expiry day. Suggest to trade with caution or avoid trading Nifty today and instead look for pockets in stocks which will give better chances. Nifty above 6285 can go to 6300 and 6315 and below 6260 we could reach 6245 and 6230.
Top picks for the day
My top pics for the day are Bajaj Auto, Hindalco, Relcap and Canbank. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key stocks
Shortterm Trend
Nifty was closing below 6280 and is bit weak and I dont read much into it as we are towards expiry and holidays. The key is Nifty should trade above 6280 for 6345 and 6400. The key is Nifty should cross 6350 again convincingly to move all time highs which is not looking likely very shortly. In the lower side 6160 is key to be watched to move to 6080 and 6000 levels.
Intraday
Nify will remain range bound and expect not much movement being expiry day. Suggest to trade with caution or avoid trading Nifty today and instead look for pockets in stocks which will give better chances. Nifty above 6285 can go to 6300 and 6315 and below 6260 we could reach 6245 and 6230.
Top picks for the day
My top pics for the day are Bajaj Auto, Hindalco, Relcap and Canbank. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key stocks
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