Nifty dropped to lowest level in more than one week as weakness in Asian and European stocks dampened investors' sentiment, but closed above psychological 6,000 mark. Cipla is biggest loser in Nifty because of bad results. Nifty fell 82.90 points % to 6,001.10, its lowest closing level since 4 February 2014 it has hit a low of 5,991.10 in intraday trade and has made high of 6,094.40in first 15 minutes. FII's were net buyers, but market has come down which is continuous to be major concern.
ShorTerm Trend
Stated before that Nifty is getting tired and when world is moving up it is crawling where as when markets move down we will be crumble, it has happened and I think we are heading towards 5930. In my previous blog I said below 6040 we could see 6000 and 5950 and we are heading towards that level. Nifty is at key psychological 6,000 mark and not sure how long we can sustain at this level. Below 6000 we could see 5970 and 5940 and above 6080 we could head to 6140 and 6200.
Intraday Levels
We are going to good opening at 6030 and as indicated by cues, what is important is Nifty should stay above 6035 for 15 minutes we could see 6050 and 6070 and on the lower side below 6030 for 15 minutes we could see 6015 and 6000. What we should for in indian market is SBI results which are expected to be not good, with they are worse I am sure we are going to see sub 6000 levels for today. Second half of the day is key and suggest you to trade with carefully.
Top pics for the day are Jindal Steel, JSWSteel, Sun Pharma, SBIN, HCLTech, DRReddy and Bajaj Auto for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity callsWill look to buy Silver, Nickel, Crude and Natural Gas, but will suggest to trade based on levels.
Pivot levels of Key Stocks
ShorTerm Trend
Stated before that Nifty is getting tired and when world is moving up it is crawling where as when markets move down we will be crumble, it has happened and I think we are heading towards 5930. In my previous blog I said below 6040 we could see 6000 and 5950 and we are heading towards that level. Nifty is at key psychological 6,000 mark and not sure how long we can sustain at this level. Below 6000 we could see 5970 and 5940 and above 6080 we could head to 6140 and 6200.
Intraday Levels
We are going to good opening at 6030 and as indicated by cues, what is important is Nifty should stay above 6035 for 15 minutes we could see 6050 and 6070 and on the lower side below 6030 for 15 minutes we could see 6015 and 6000. What we should for in indian market is SBI results which are expected to be not good, with they are worse I am sure we are going to see sub 6000 levels for today. Second half of the day is key and suggest you to trade with carefully.
Top pics for the day are Jindal Steel, JSWSteel, Sun Pharma, SBIN, HCLTech, DRReddy and Bajaj Auto for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity callsWill look to buy Silver, Nickel, Crude and Natural Gas, but will suggest to trade based on levels.
Pivot levels of Key Stocks
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