Nifty closed lower at 6483 on concern foreign capital inflow will slow after the US Federal Reserve further reduced monetary stimulus for the US economy and signaled US interest rates will be raised, but FII's were still buying. FII Bought INR 722.02 crs and DII Sold INR 563.29 crs.
Shorterm Term
Nifty is weak yesteraday as expected but closed above 6480 which is important support zone. Closing below this could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days. On the higher side Nifty should close above 6570 to reach 6700 and it is not easy to reach, but for the very short term Nifty above 6520 we could see 6560 levels.
PSU banks and other rate sensitivies are weak and have corrected on intraday basis and will consolidate at this levels and we will see some bounce back in some of the sectors which has corrected.
Intraday Levels
As indicated by cues we may see positive opening and if it can trade above 6517 we could see 6532 and 6550 and below 6480 we could see 6465 and 6450. IT and Pharma could see some action in few days.
Top pics for the day are TCS, AxisBank, BPCL,Auro Pharma, M&MFin, Colpal and Bajaj Auto for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
Nifty is weak yesteraday as expected but closed above 6480 which is important support zone. Closing below this could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days. On the higher side Nifty should close above 6570 to reach 6700 and it is not easy to reach, but for the very short term Nifty above 6520 we could see 6560 levels.
PSU banks and other rate sensitivies are weak and have corrected on intraday basis and will consolidate at this levels and we will see some bounce back in some of the sectors which has corrected.
Intraday Levels
As indicated by cues we may see positive opening and if it can trade above 6517 we could see 6532 and 6550 and below 6480 we could see 6465 and 6450. IT and Pharma could see some action in few days.
Top pics for the day are TCS, AxisBank, BPCL,Auro Pharma, M&MFin, Colpal and Bajaj Auto for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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