Nifty ended almost unchanged for the day, giving up initial gains that took them to record high.The market breadth, indicating the overall health of the market, was positive. What we have observed we are not seeing FII's pumping money into market like they were doing earlier.
Shorterm Term
Nifty is trading above key support level of 6770, but did not moved yesterday either way and closed flat with 2 points less, This is because of less participation of FII's, I am sure we are going to see a clear trend in next 10 days as we are trading in a range of 150 points since last 2 weeks. My target is intact and is destinated to move to 6900 and ultimate target of 7200 with SL of 6730, on the downside below 6660 levels we could see 6550 and 6460 levels with SL of 6730
We are going to see lot of action now in Bank Nifty and can go to 13600 with the type of momemtum we are seeing it seems to be possible in next 2 weeks. Market is a buy on dips as we are seeing buying at every low levels. What is dissapointing is CNX IT which is reversing and it seems to be looking even further lower levels, but oil sector is doing good.
Intraday Levels
We are going to see flat opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 15 minutes we could see 6785 and 6770.
Top pics for the day are Lupin,LICHousing, TechM, BPCL, LT, Glenmark, OIL, ApolloTyre and Auro Pharma for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. . Suggest to trade with caution as we are on Expiry day.
OIL is good above 500 and Auro Pharma is looking weak below 542 for the day.
Shorterm Term
Nifty is trading above key support level of 6770, but did not moved yesterday either way and closed flat with 2 points less, This is because of less participation of FII's, I am sure we are going to see a clear trend in next 10 days as we are trading in a range of 150 points since last 2 weeks. My target is intact and is destinated to move to 6900 and ultimate target of 7200 with SL of 6730, on the downside below 6660 levels we could see 6550 and 6460 levels with SL of 6730
We are going to see lot of action now in Bank Nifty and can go to 13600 with the type of momemtum we are seeing it seems to be possible in next 2 weeks. Market is a buy on dips as we are seeing buying at every low levels. What is dissapointing is CNX IT which is reversing and it seems to be looking even further lower levels, but oil sector is doing good.
Intraday Levels
We are going to see flat opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 15 minutes we could see 6785 and 6770.
Top pics for the day are Lupin,LICHousing, TechM, BPCL, LT, Glenmark, OIL, ApolloTyre and Auro Pharma for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. . Suggest to trade with caution as we are on Expiry day.
OIL is good above 500 and Auro Pharma is looking weak below 542 for the day.
No comments:
Post a Comment