Nifty opened at 6191 and made a high of 6221 which is previous days close, but closed at 6211, which is better than expected close. Pharma companies gained and oil refiners were losers based on bad news. As expected we would see activity by FII's from this Monday after a week.
Shortterm Trend
It seems Nifty is consolidating at these levels and is waiting for cues and infact Nifty took support at 6190 which is 50 day DMA on Friday. Nifty has strong resistance at 6250 and has support at 6160 - 6170 which also happens to be 50 day EMA and above 6250 we could see 6300 and 6350 and below 6160 we could see 6100 and 6065 which also happens to be 100 day EMA. We are defiently in medium uprtrend and in the short the trend has become weak after getting below key support area of 6250 level very easily. I strongly feel 6100 is a very key level to be watched buy bulls for a major trend change as I see a strong support. As we have results season starting big IT boy Infosys coming with results on Dec 10th, 2014, I am expecting lot of action from second half of the week and sectors to be watched are Pharma and IT for longs and Auto and Infra for shorts. I can strongly say we are going down as actions back after holidays for FII's.
Intraday Levels
We could see weak opening, but we could see bounce from lower levels as we have key support at 6190 which is 50 day DMA and also Nifty took support at 6190 on Friday and I feel it is a key level to be watched. Above 6220 we could see 6235 and 6250 which is a major resistance and below 6190 we could see 6175 abd 6160 which is again a very good support zone. As we are between strong support and resistance zone we could action between levels till we see breaking this level either side for a stronger move.
Top pics for the day
My top pics for the day are Auro Pharma, Adani Ent, Lupin, M&M and Maruti. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels for Indices and key stocks
Shortterm Trend
It seems Nifty is consolidating at these levels and is waiting for cues and infact Nifty took support at 6190 which is 50 day DMA on Friday. Nifty has strong resistance at 6250 and has support at 6160 - 6170 which also happens to be 50 day EMA and above 6250 we could see 6300 and 6350 and below 6160 we could see 6100 and 6065 which also happens to be 100 day EMA. We are defiently in medium uprtrend and in the short the trend has become weak after getting below key support area of 6250 level very easily. I strongly feel 6100 is a very key level to be watched buy bulls for a major trend change as I see a strong support. As we have results season starting big IT boy Infosys coming with results on Dec 10th, 2014, I am expecting lot of action from second half of the week and sectors to be watched are Pharma and IT for longs and Auto and Infra for shorts. I can strongly say we are going down as actions back after holidays for FII's.
Intraday Levels
We could see weak opening, but we could see bounce from lower levels as we have key support at 6190 which is 50 day DMA and also Nifty took support at 6190 on Friday and I feel it is a key level to be watched. Above 6220 we could see 6235 and 6250 which is a major resistance and below 6190 we could see 6175 abd 6160 which is again a very good support zone. As we are between strong support and resistance zone we could action between levels till we see breaking this level either side for a stronger move.
Top pics for the day
My top pics for the day are Auro Pharma, Adani Ent, Lupin, M&M and Maruti. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels for Indices and key stocks
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