The market snapped five-day winning streak on the first day of the week, tracking weakness in global peers as investors remained cautious over rising tensions in Ukraine. Gains in crude oil prices also weighed on the sentiment on the domestic bourses. FII Bought INR 198.53 crs and DII Sold INR 1566.31 crs.
Shorterm Trend
Nifty close below 6240, and reached 6221 and as of this uptrend is intact and if we were to move do we need to close below 6183 which is 50 DMA and 6170 which is 100 day DMA and so not easy to breach. Nifty should close above 6240 for any move back to recent highs for 6280 and has next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6180 and if break this level we could see 6140 and 6100.
Told you yesterday that we may see ripples as we are seeing over bought situation and we may see consolidation at these levels. IT has seen correction which is not good indication and we may see further correction but it is not for shorting, it is only to buy more at lower levels.
Intraday Levels
As indicated by cues we could open flat and if Nifty can trade above 6245 for 10 minutes we could see 6260 and 6275 and on the lower side below 6215 we could see 6210
and 6195.
Top pics for the day are Maruti, Hero Motors, Titan, TataMotors, AdaniEnt, Tata Global and Relinfra for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity Trend
Expect Bullion to move up along with Crude and Natural gas where as would like to sell Metals but suggest to buy/sell in them based on levels in live market and my above outlook is only based on broader trend based on previous days data.
Pivot Levels
Shorterm Trend
Nifty close below 6240, and reached 6221 and as of this uptrend is intact and if we were to move do we need to close below 6183 which is 50 DMA and 6170 which is 100 day DMA and so not easy to breach. Nifty should close above 6240 for any move back to recent highs for 6280 and has next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6180 and if break this level we could see 6140 and 6100.
Told you yesterday that we may see ripples as we are seeing over bought situation and we may see consolidation at these levels. IT has seen correction which is not good indication and we may see further correction but it is not for shorting, it is only to buy more at lower levels.
Intraday Levels
As indicated by cues we could open flat and if Nifty can trade above 6245 for 10 minutes we could see 6260 and 6275 and on the lower side below 6215 we could see 6210
and 6195.
Top pics for the day are Maruti, Hero Motors, Titan, TataMotors, AdaniEnt, Tata Global and Relinfra for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity Trend
Expect Bullion to move up along with Crude and Natural gas where as would like to sell Metals but suggest to buy/sell in them based on levels in live market and my above outlook is only based on broader trend based on previous days data.
Pivot Levels
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