Nifty had good opening and later market gave up all towards end of the day and closed flat and many stocks are looking weak. FII Bought INR 342.75 crs and DII Bought INR 13.45 crs.
Shorterm Term
We did not have a good closing as we have seen profit booking towards end of the day and many stocks have corrected. IT and Pharma is looking very weak and I expect weakeness to continue for today also. India VIX is at 30 which is normally indicates bottom, but we are at top and this happens rarely and very difficult to read.
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
We are going to see negative opening with gap down and let us hope this will not continue and will gain later in the day, if we continue to trade in Red, there is chance of further fall in equity and index overall. If Nifty can be traded above 6800 we could see 6815 and 6830 and below 6770 for 10 minutes it can go to 6755 and 6740.
Top pics for the day are AdaniEnt, Relinfra,LICHsg, Crompton, Abirlanova, Auro Pharma, DRReddy, HCLTech and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
We did not have a good closing as we have seen profit booking towards end of the day and many stocks have corrected. IT and Pharma is looking very weak and I expect weakeness to continue for today also. India VIX is at 30 which is normally indicates bottom, but we are at top and this happens rarely and very difficult to read.
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
We are going to see negative opening with gap down and let us hope this will not continue and will gain later in the day, if we continue to trade in Red, there is chance of further fall in equity and index overall. If Nifty can be traded above 6800 we could see 6815 and 6830 and below 6770 for 10 minutes it can go to 6755 and 6740.
Top pics for the day are AdaniEnt, Relinfra,LICHsg, Crompton, Abirlanova, Auro Pharma, DRReddy, HCLTech and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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