Markets reversed Monday’s losses with the Nifty hitting the 6300-mark intraday for the first time since January on rally in global peers following easing tensions between Ukraine and Russia after Russian troops reportedly were ordered back to their bases.FII Bought INR 185.61 crs and DII Sold INR 344.50 crs.
Shorterm Trend
Nifty crossed 6240 and 6280 and closed at 6297 after hovering around this 6300 most of the day and has next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6240 and if break this level for two days we could see 6180 and 6100. Next major resistance is at 6350 which has failed to cross many times and has reversed to very low levels every time it crossed and I think we have reached short term swing high and any move to further highs depends upon with a confident close above 6350 for all time high levels and follow global trend of reaching 52 week highs in most of the markets.
Intraday Levels
As indicated by cues we could open gap at around 6330 and if Nifty can trade above 6230 for 10 minutes we could see 6345 and 6360 and on the lower side below 6315 we could see 6300 and 6285.
Top pics for the day are SBIN, ICICIBank, LT, Tata Comm, YesBank, SSLT and CentTextile for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity Trend
Would look to sell GOld, Crude and Natural Gas and buy Nickel and Copper Bullion to move up along with Crude and Natural gas where as would like to sell Metals but suggest to buy/sell 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 crossed 6240 and 6280 and closed at 6297 after hovering around this 6300 most of the day and has next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6240 and if break this level for two days we could see 6180 and 6100. Next major resistance is at 6350 which has failed to cross many times and has reversed to very low levels every time it crossed and I think we have reached short term swing high and any move to further highs depends upon with a confident close above 6350 for all time high levels and follow global trend of reaching 52 week highs in most of the markets.
Intraday Levels
As indicated by cues we could open gap at around 6330 and if Nifty can trade above 6230 for 10 minutes we could see 6345 and 6360 and on the lower side below 6315 we could see 6300 and 6285.
Top pics for the day are SBIN, ICICIBank, LT, Tata Comm, YesBank, SSLT and CentTextile for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity Trend
Would look to sell GOld, Crude and Natural Gas and buy Nickel and Copper Bullion to move up along with Crude and Natural gas where as would like to sell Metals but suggest to buy/sell based on levels in live market and my above outlook is only based on broader trend based on previous days data
Pivot Levels
No comments:
Post a Comment