Nifty edged lower for the second day in a row triggered by the IMD announcing that the country will likely get below-normal levels of monsoon rain this year. We have seen lesser participation by FII and they Bought INR 77.02 crs and where DII Sold INR 370.53 crs
Shorterm Term
Nifty came down by 20 points, but is still above 6740 which is 20 DMA and below 6770 even if it breaks it should trade atleast for 2 days below this level for any decisive move towards downside. Nifty has good supports in levels between 6730 - 6770 and not easy to break down these levels and so will maintain my SL at 6720 for a target of 6880 and 7000 and people can enter market at current levels if some one has missed this rally and Banknifty is going to be star as we may see 13600 levels in next one week.
Intraday Levels
We are going to see flat opening and expect Nifty to trade in a range till some time. If Nifty trades above 6790 we could see 6805 and 6820 and below 6740 for 5 minutes we could see 6725 and 6715.
Top pics for the day are Cipla,Havells, Tata Chem, Wockpharma, IBULHSGFIN,Asian Paints and ACC for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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