Indices surged to record closing high after the government exceeded its asset sales target for this fiscal year and as investors bet that the BJP led NDA will be able to form the next government at Centre. FII Bought INR 1465.62 crs and DII Sold INR 770.39 crs.
Shorterm Term
Told you yesterday "support at 6480 is still holding which is important support zone and We are in a zone for a week and I think time has come for a big move either side". Look at the move we have seen, now we need to stay above 6570 for one more day for a move to 6700 and weaknes can only be seen below 6480 and if it can stay for few days could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.
Every time Nifty has made a lifetime high we have seen some correction and this could happen today, but it may not be substantial but we could see some correction. We may see some action in oil producing companies.
Intraday Levels
As indicated by cues we may see positive flat opening and if it can trade above 6585 we could see 6600 and 6615 and below 6570 we could see 6555 and 6440.
Top pics for the day are Reliance, ICICI Bank, HDFCBank,Yesbank, Havells, GodrejInd, Auro Pharma & JSWSteel for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.co
Shorterm Term
Told you yesterday "support at 6480 is still holding which is important support zone and We are in a zone for a week and I think time has come for a big move either side". Look at the move we have seen, now we need to stay above 6570 for one more day for a move to 6700 and weaknes can only be seen below 6480 and if it can stay for few days could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.
Every time Nifty has made a lifetime high we have seen some correction and this could happen today, but it may not be substantial but we could see some correction. We may see some action in oil producing companies.
Intraday Levels
As indicated by cues we may see positive flat opening and if it can trade above 6585 we could see 6600 and 6615 and below 6570 we could see 6555 and 6440.
Top pics for the day are Reliance, ICICI Bank, HDFCBank,Yesbank, Havells, GodrejInd, Auro Pharma & JSWSteel for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.co
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