Nifty is quite in the morning and suddenly took off to close above 6800 and close just below 6796 which is all time high based on BJP manifesto and also on IMF report on growth prospect of India in 2014-2015. FII Bought INR 1043.86 crs and DII Sold INR 463.78 crs
Shorterm Term
Told you yesterday that Nifty took support at 6650 and is ready to bounce, look at the bounce, but I never expected that the bounce will be so big. We have seen huge rally and what is above my 6770 level and so we are heading towards 6900.
What is alarming is VIX is at 27 and also most of the indicators are overbought, but when you are in a bull market these singals are tend to be ignored. Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 for second day and below 6650 we could see 6570 and 6500.
Intraday Levels
With US Fed not goint to increase interest rates is positive and we could open positive and Nifty can be traded above 6820 we could see 6825 and 6740 and below 6775 we could see 6760 and 6750.
Top pics for the day are IndusInd, Axis Bank, PNB, Maruti,TataMotor, Crompton, JustDial and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
Told you yesterday that Nifty took support at 6650 and is ready to bounce, look at the bounce, but I never expected that the bounce will be so big. We have seen huge rally and what is above my 6770 level and so we are heading towards 6900.
What is alarming is VIX is at 27 and also most of the indicators are overbought, but when you are in a bull market these singals are tend to be ignored. Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 for second day and below 6650 we could see 6570 and 6500.
Intraday Levels
With US Fed not goint to increase interest rates is positive and we could open positive and Nifty can be traded above 6820 we could see 6825 and 6740 and below 6775 we could see 6760 and 6750.
Top pics for the day are IndusInd, Axis Bank, PNB, Maruti,TataMotor, Crompton, JustDial and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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