We settled lower after fluctuating between positive and negative terrain throughout the session as we had rollercoaster ride on Fridat. Investors remained wary ahead of the announcement of Federal Reserve's monetary. FII Bought INR 454.48 crs and DII Sold INR 6.46 crs.
Shorterm Term
Nifty had great run the morning with a 60 point up swing and everybody thought we are coming back to positive territory, but hell broke down at mid day we went almost all 100 points down from its top and amde a low of 6665 and later recovered towards fag end of the day and closed below 6700. If we close below 6650 for two days I am sure we are going to see lower levels of 6550 and 6500. We can go long only if we stay above 6740 for todays for 6810 and 6890.
It is very difficult market to trade now for short term traders and suggest to stay in sidelines or else trade with half quantity if you have to trade or you are compulsive trader. What we have seen is FIIs were still buying, but HNI were booking profits and so market is behaving weired.
Intraday Levels
We are going to see positive opening of 25 point up, but not sure we can go long in this market till we are above 6770 and suggest sell on rise market till then. For the day I suggest to sell Nifty if it comes below 6740 from levels of 6750 for 6725 and 6710 and buy above 6770 we could see 6795 and 6810 and at the same time if Nifty by any chance goes to 6650 -6655 levels it is buy for 6670 and 6685.
Top pics for the day are Glenmark, Heromotors,DrReddys,AIL,DLF, CentText, TataComm, Crompton and ApolloTyre for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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