Nifty edged higher for the second day in a row today, 6 May 2014 with the market sentiment boosted by data showing that foreign funds remained net buyers of Indian stocks, but does not have conviction and is giving gains later in the day. FII Bought INR 45.93 crs and DII Sold INR 55.73 crs.
Shorterm Term
Nifty has closed positive for the second day, but gave gains later in the day. The key level to be watched is 6650 at lower side, it should stand strong till some times and would be a buyer at these level if it was able to support at these levels or would sell if Nifty breaks this level with volumes and stays below this level for more than a day. I would also would like to sell near 6750 - 6770 levels because earlier support is now a major resistance.
Intraday Levels
We are going to see positive to flat opening, but not sure we can go long in this market blidly as we are seeing a constant resistance at higher levels. Nifty is giving up it gains and also it is also not going down. What it shows is market is going to be choppy and people should not expect big moves and should be ready to book profits at every logical levels. I would like to sell at 6740 for 6725 and 6710 and would buy at 6695 for 6710, 6725.
Top pics for the day are RECLtd, PFC, BharatForge, BPCL, Titan, Crompton, AmbujaCem, BhartiAirtel and INFY for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Shorterm Term
Nifty has closed positive for the second day, but gave gains later in the day. The key level to be watched is 6650 at lower side, it should stand strong till some times and would be a buyer at these level if it was able to support at these levels or would sell if Nifty breaks this level with volumes and stays below this level for more than a day. I would also would like to sell near 6750 - 6770 levels because earlier support is now a major resistance.
Intraday Levels
We are going to see positive to flat opening, but not sure we can go long in this market blidly as we are seeing a constant resistance at higher levels. Nifty is giving up it gains and also it is also not going down. What it shows is market is going to be choppy and people should not expect big moves and should be ready to book profits at every logical levels. I would like to sell at 6740 for 6725 and 6710 and would buy at 6695 for 6710, 6725.
Top pics for the day are RECLtd, PFC, BharatForge, BPCL, Titan, Crompton, AmbujaCem, BhartiAirtel and INFY for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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