Nifty edged lower in choppy trade on the last trading session of the week after the latest data showed that India's merchandise exports fell for the second month in a row in March and also because of profit booking before IIP data release which is due towards end of the day on Friday. FII Sold INR 362.29 crs and DII Bought INR 364.92 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. With Infy starting with its results, we will see IT doing well this week as other IT majors will comeout with results. India VIX is trading high which indicates we will see more volatality.
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 positive opening with gap down, we are going to see some action in IT sector. If Nifty can be traded above 6811 we could see 6826 and 6842 and below 6770 for 10 minutes it can go to 6755 and 6740.
Top pics for the day are Tata Comm, HCLTech, TechM, CenturyTex, Biocon, STCIndia, AdaniEnt and AxisBank 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. With Infy starting with its results, we will see IT doing well this week as other IT majors will comeout with results. India VIX is trading high which indicates we will see more volatality.
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 positive opening with gap down, we are going to see some action in IT sector. If Nifty can be traded above 6811 we could see 6826 and 6842 and below 6770 for 10 minutes it can go to 6755 and 6740.
Top pics for the day are Tata Comm, HCLTech, TechM, CenturyTex, Biocon, STCIndia, AdaniEnt and AxisBank for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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