Increase in global crude oil prices and weak domestic macroeconomic data weighed on Indian stocks on the first trading session of the week. The market breadth, indicating health of the market was negative. FII Sold INR 21.63 crs and DII Sold INR 278.27 crs.
Shorterm Term
What we have seen is Global markets are okay, but India market is not looking good and it has decoupled it self from other markets based on local events it could be because of elections and also because of local economic data which is still looking bad.
India VIX is trading high at 32 which indicates we will see more volatality. Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 and below 6650 we could see 6570 and 6500.
Intraday LevelsWe are going to see flat opening, but is looking weak and it is trade for negative bias. I prefer to buy into pharma and IT, where as look to short in Banking and cyclicles like reality and metals. If Nifty can be traded above 6750 we could see 6765 and 6780 and below 6710, it can go to 6695 and 6680.
Top pics for the day are Tata Comm, TCS, MCdowell, HeroMotors, Bharti Airtel, DLF, YesBank and IndusInd for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
What we have seen is Global markets are okay, but India market is not looking good and it has decoupled it self from other markets based on local events it could be because of elections and also because of local economic data which is still looking bad.
India VIX is trading high at 32 which indicates we will see more volatality. Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 and below 6650 we could see 6570 and 6500.
Intraday LevelsWe are going to see flat opening, but is looking weak and it is trade for negative bias. I prefer to buy into pharma and IT, where as look to short in Banking and cyclicles like reality and metals. If Nifty can be traded above 6750 we could see 6765 and 6780 and below 6710, it can go to 6695 and 6680.
Top pics for the day are Tata Comm, TCS, MCdowell, HeroMotors, Bharti Airtel, DLF, YesBank and IndusInd for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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