Nifty reversed direction after scaling record high after the result of a survey showed that business activity in the Indian private sector fell. Finally we saw a small negative close on eleventh day. This is definitely not looking weak but definitely on stiff resistance. FII Bought INR 717.39 crs and DII Sold INR 716.57 crs.
Shorterm Term
After 10 days we have seen a small dip and I dont read much into it unless we see another 60 - 80 points correction. India VIX is at high 22 which is ridiculous. I am repeating Nifty is weak only below 6570 for 6500 and 6420 and on the higher side 6900 is very much possible.
Intraday Levels
As indicated by cues we may see negative opening in Nifty after long time and Nifty can be traded above 6745 we could see 6755 and 6770 and below 6715 we could see 6700 and 6685.
Top pics for the day are JSWSteel, Colpal, Apollo Tyre, Jublfood, Coal India, BHEL, OrientBank, SunTV and IndusInd for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
After 10 days we have seen a small dip and I dont read much into it unless we see another 60 - 80 points correction. India VIX is at high 22 which is ridiculous. I am repeating Nifty is weak only below 6570 for 6500 and 6420 and on the higher side 6900 is very much possible.
Intraday Levels
As indicated by cues we may see negative opening in Nifty after long time and Nifty can be traded above 6745 we could see 6755 and 6770 and below 6715 we could see 6700 and 6685.
Top pics for the day are JSWSteel, Colpal, Apollo Tyre, Jublfood, Coal India, BHEL, OrientBank, SunTV and IndusInd for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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