Nifty opened well and made a high of 6170 and never tried to cross that levels and is in downward journey through out the day and made a low of 6110 and recovered to close at 6120. This is fourth straight day for Nifty to close at lower levels.After hovering in green till mid-afternoon trade, Nifty suddenly slipped into the red in late trade. FII's bought 250 crores and DII's were sellers of 17 crores. What we have seen Oil, Pharma and IT supporting up move where as Banking and Metals sectors are trying to drag the market lower.
Short Term Trend
With Fed going ahead with further 10 Billion dollars taper we are going to see most of the markets bottoming out as it is discounted and are better prepared to handle this move. Nifty is trading continuously below 6144 and next support is 6110 from where it took support yesterday and if trades below this levels we are going go to 6050 and 5960 levels and above 6144 for two days we could go to 6190 and 6230. BankNifty is looking very weak an its next support is at 10000 and is going to make Nifty weaker despite support from Oil, Pharma and IT sectors. Expect Nifty to close in the range of 6030 - 6060 levels.
Intraday levels
With US going ahead with further tapper we are going to see huge gap down of nearly 80 points which could see Nifty opening at 6040 - 6050 levels which is very good support levels. If Nifty could sustain above 6060 for 15 minutes we could see moving to 6075 and 6090 and on the lower side below 6060 for 15 minutes we could see 6045 and 6030.
Suggest trader traders to not trade on expiry day in futures instead trade light in stock cash with strict stop loss.
Top pics for the day
Top pics for the day are Hero Motors, Havells, Auro Pharma, ICICI Bank, Jindal Steel, RelInfra and Reliance .For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity calls
Will look to buy Gold and Buy on Copper and sell on other Base Metals and Neutral on Energy with Crude being sell and Natural Gas being Buy and would trade based on levels.
Pivot levels for the day
Short Term Trend
With Fed going ahead with further 10 Billion dollars taper we are going to see most of the markets bottoming out as it is discounted and are better prepared to handle this move. Nifty is trading continuously below 6144 and next support is 6110 from where it took support yesterday and if trades below this levels we are going go to 6050 and 5960 levels and above 6144 for two days we could go to 6190 and 6230. BankNifty is looking very weak an its next support is at 10000 and is going to make Nifty weaker despite support from Oil, Pharma and IT sectors. Expect Nifty to close in the range of 6030 - 6060 levels.
Intraday levels
With US going ahead with further tapper we are going to see huge gap down of nearly 80 points which could see Nifty opening at 6040 - 6050 levels which is very good support levels. If Nifty could sustain above 6060 for 15 minutes we could see moving to 6075 and 6090 and on the lower side below 6060 for 15 minutes we could see 6045 and 6030.
Suggest trader traders to not trade on expiry day in futures instead trade light in stock cash with strict stop loss.
Top pics for the day
Top pics for the day are Hero Motors, Havells, Auro Pharma, ICICI Bank, Jindal Steel, RelInfra and Reliance .For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity calls
Will look to buy Gold and Buy on Copper and sell on other Base Metals and Neutral on Energy with Crude being sell and Natural Gas being Buy and would trade based on levels.
Pivot levels for the day
No comments:
Post a Comment