Heavy FII buying coming a day after the US Federal Reserve's decision to gradually reduce monetary stimulus for the US economy, helped the market shrug off fears of slowdown in foreign inflows. Nifty opened at 6181 and made a steady progress after consolidation and made a high of 6284 and closed at 6274 which is a very good close. IT sector started hitting all time highs again and rate senstivies Banking and reality has also done very well. FII's were buying heavily everday and it is clear bullish sign and it is a Santa rally.
Shortterm Trend
Not many events are lineup this week, US and other major markets will be on holiday on eve of Christmas. Nifty is above 6240 which is a key resistanace and just below 6280 which is next resitance and if this was crosed we could see levels of 6340 and 6400 and below 6240, 6200 and 6160 is very much possibility. I feel we should watch 50 DMA very closely every time market has come down and is near this key support area
Intraday Trend
Nifty could open with positive bias and as long as it trades above 6290 for for 15 mins 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.
Top picks for the day.
My top pics for the day are MCDowell, IndusInd, DrReddy, M&M and JublFood. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key Indices and Stocks
Shortterm Trend
Not many events are lineup this week, US and other major markets will be on holiday on eve of Christmas. Nifty is above 6240 which is a key resistanace and just below 6280 which is next resitance and if this was crosed we could see levels of 6340 and 6400 and below 6240, 6200 and 6160 is very much possibility. I feel we should watch 50 DMA very closely every time market has come down and is near this key support area
Intraday Trend
Nifty could open with positive bias and as long as it trades above 6290 for for 15 mins 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.
Top picks for the day.
My top pics for the day are MCDowell, IndusInd, DrReddy, M&M and JublFood. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels of key Indices and Stocks
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