Nifty edged higher on the first trading session of the week to new all time high, with market sentiment boosted by data showing that foreign funds remained net buyers of Indian stocks and we are seeing buying at every low levels lead by banking especially PSU banks. With likely happening of NDA coming to power we are seeing continuous rally and every correction is used as oppurtinity to buy.
Shorterm Term
Nifty is trading strong above key level of 6770 for second day and it is on the way for first target of 6900 and ultimate target of 7000+. Traders can go long for a target of 6900 and 7000 by keeping a stop loss of 6730 and on the other hand below 6660 levels we could see 6550 and 6460 levels. The upward trend is still intact and is destinated to 7000 atleast by mid of Next month.
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.
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 ICICI Bank,IDBI, GodrejInd, LT, M&M,JSWsteel, KarurVysya and Wipro for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
Nifty is trading strong above key level of 6770 for second day and it is on the way for first target of 6900 and ultimate target of 7000+. Traders can go long for a target of 6900 and 7000 by keeping a stop loss of 6730 and on the other hand below 6660 levels we could see 6550 and 6460 levels. The upward trend is still intact and is destinated to 7000 atleast by mid of Next month.
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.
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 ICICI Bank,IDBI, GodrejInd, LT, M&M,JSWsteel, KarurVysya and Wipro for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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