Nifty made a fresh new high and with FII's still buying may be less when compared to first 2 weeks of buying but we are heading towards higher highs based on Investors are betting that the BJP led NDA will be able to form the next government at the centre with support from some regional parties after Lok Sabha elections which conclude in mid-May this year. FII Bought INR 767.61 crs and DII Sold INR 533.88 crs
Shorterm Term
Nifty is again gaining strength and is moving towards 6900 even though I feel 6880 is going strong resistance. I strongly feel u can continue to hold on to position.What is important is 200 day DMA is at 6110 which is almost 700 point from it which is not good technically, but as we are in a strong momentum we cannot expect any major fall till May 16th, if it does we could see levels of 6300 levels if market sees major surprise politically.
I am holding my Nifty buy at 6770 for 6880 with SL of 6730 and is now sitting on profit of 70 points and heading towards first target and nifty will become weak only if it trades below 6770 for 2 days which is unlikely to happen as we are in a super bull market. Market is a buy on dips as we are seeing buying at every low levels and Banknifty is going to be star as we may see 13600 levels in next one week.
Intraday Levels
We are going to see small negative opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 5 minutes we could see 6785 and 6770.
Top pics for the day are KotakBank, ICICI Bank, Bank of Baroda, SBIN, Mothersunsumi, AmbujaCem, BHEL, Titan and Cairn for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
Nifty is again gaining strength and is moving towards 6900 even though I feel 6880 is going strong resistance. I strongly feel u can continue to hold on to position.What is important is 200 day DMA is at 6110 which is almost 700 point from it which is not good technically, but as we are in a strong momentum we cannot expect any major fall till May 16th, if it does we could see levels of 6300 levels if market sees major surprise politically.
I am holding my Nifty buy at 6770 for 6880 with SL of 6730 and is now sitting on profit of 70 points and heading towards first target and nifty will become weak only if it trades below 6770 for 2 days which is unlikely to happen as we are in a super bull market. Market is a buy on dips as we are seeing buying at every low levels and Banknifty is going to be star as we may see 13600 levels in next one week.
Intraday Levels
We are going to see small negative opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 5 minutes we could see 6785 and 6770.
Top pics for the day are KotakBank, ICICI Bank, Bank of Baroda, SBIN, Mothersunsumi, AmbujaCem, BHEL, Titan and Cairn for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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