Markets surged after data released by the RBI after trading hours on Wednesday showed that India's current account deficit declined sharply in Q3 December 2013 and it is highest ever closing for Nifty at 6401.The market sentiment boosted by data showing that foreign institutional investors have bought heavily yesterday with INR 1272.93 crs and as ever at highs DII Sold INR 567.10 crs
Shorterm Trend
Nifty crossed all resistances and we have closed above 6400 and well above 6350 which has been strongest resistance since last one year as we have seen correction heavily from these levels to swing low levels, but if we can stay above 6400 for second day we are destinated to got to higher levels of 6480 and for elections target of 6700 which may not be one way. Weakness can only be seen for short term if we close below 6350 for few days for 6300 and 6240 levels.
What we have seen is broader rally across sectors and non F&O stocks started moving up which have been lagging since long. The trade is long and it is better to identify stocks which are not in fancy for quite some time, and is required for this rally to sustain at these levels. All cyclicals are moving up and we have non fancy reality sectors also going up. We may see market consolidating at this levels, but stocks will move up
Intraday Levels
As indicated by cues we could open gap at around 6430 which is all time high and if Nifty can trade above 6425 for 15 minutes we could see 6440 and 6455 and on the lower side below 6400 we could see 6385 and 6370. Please keep a eye on previous all time high of 6415 which it has met in Decemeber, 2013.
Top pics for the day are RelInfra, JSWsteel, Havells, DLF, Heromotors, BhartiAirtel, Tata Motors and BHEL for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity Trend
Would look to Buy Gold and Silver, sell Crude and Natural Gas 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 Level
Shorterm Trend
Nifty crossed all resistances and we have closed above 6400 and well above 6350 which has been strongest resistance since last one year as we have seen correction heavily from these levels to swing low levels, but if we can stay above 6400 for second day we are destinated to got to higher levels of 6480 and for elections target of 6700 which may not be one way. Weakness can only be seen for short term if we close below 6350 for few days for 6300 and 6240 levels.
What we have seen is broader rally across sectors and non F&O stocks started moving up which have been lagging since long. The trade is long and it is better to identify stocks which are not in fancy for quite some time, and is required for this rally to sustain at these levels. All cyclicals are moving up and we have non fancy reality sectors also going up. We may see market consolidating at this levels, but stocks will move up
Intraday Levels
As indicated by cues we could open gap at around 6430 which is all time high and if Nifty can trade above 6425 for 15 minutes we could see 6440 and 6455 and on the lower side below 6400 we could see 6385 and 6370. Please keep a eye on previous all time high of 6415 which it has met in Decemeber, 2013.
Top pics for the day are RelInfra, JSWsteel, Havells, DLF, Heromotors, BhartiAirtel, Tata Motors and BHEL for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Commodity Trend
Would look to Buy Gold and Silver, sell Crude and Natural Gas 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 Level
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