Nifty closed for the first time above 6600 and the market breadth, indicating the overall health of the market was negative, FII's were still buying. FII Bought INR 1004.52 crs and DII Sold INR 356.11crs.
Shorterm TermWe are above 6600 and Upside is still intact even though we may see some aberations because of Expiry and my opinion will not change and will remain same which is upside. Nifty is heading towards 6700 if it stays above 6570 and weaknes can only be seen below 6480 and if it can stay for few days it could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.
What ever happens we are going to have highest ever monthly close. Banks and Metals have lead this rally and IT & Pharma have taken back seat. As indicated by 6600 option writing we are likely to close above 6600.
Intraday LevelsAs indicated by cues we may see flat opening and if it can trade above 6615 we could see 6630 and 6645 and below 6570 we could see 6555 and 6440. Today being expiry suggest you to avoid trading in Nifty.
Top pics for the day are Yes Bank, Arvind, ACC, Colgate,DRreddy, Lupin and MCDowell for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. Suggest to trade light on expiry day.
Shorterm TermWe are above 6600 and Upside is still intact even though we may see some aberations because of Expiry and my opinion will not change and will remain same which is upside. Nifty is heading towards 6700 if it stays above 6570 and weaknes can only be seen below 6480 and if it can stay for few days it could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.
What ever happens we are going to have highest ever monthly close. Banks and Metals have lead this rally and IT & Pharma have taken back seat. As indicated by 6600 option writing we are likely to close above 6600.
Intraday LevelsAs indicated by cues we may see flat opening and if it can trade above 6615 we could see 6630 and 6645 and below 6570 we could see 6555 and 6440. Today being expiry suggest you to avoid trading in Nifty.
Top pics for the day are Yes Bank, Arvind, ACC, Colgate,DRreddy, Lupin and MCDowell for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. Suggest to trade light on expiry day.
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