MARKET TREND:
Friday Nifty has given away the support of 50 DMA and open for more volatility. Even market has been closed below 5900 OI was in tact and we can see short covering in morning session and fresh shorts at high. Since this week's economic data and monsoon news are key drivers for the market, traders should follow SL strictly. As rupee is 57 level and RBI will be forced to intervene in managing cash flows, Hedge Funds trades (bulk deals) may break the specific strips levels. Nifty resistance likely to continue @ 5960 level and unless market closes above 6000, Bulls will not have grip on market.
NIFTY SPOT LEVELS:
Pivot: 5908
Resistance: 5945/6010/6047
Support: 5844/5806/5742
NIFTY FnO BAN: HDIL
STOCKS FOR DAY:
TATA GLOBAL EQ: BUY > 150 TRG 152-154 SL 147
NBCC EQ: BUY > 142 TRG 149 SL 135
THINKSOFT EQ: SELL < 69.25 TRG 68 SL 70
PUNJLLOYD EQ: SELL < 43.50 TRG 42 SL 44.25
Friday Nifty has given away the support of 50 DMA and open for more volatility. Even market has been closed below 5900 OI was in tact and we can see short covering in morning session and fresh shorts at high. Since this week's economic data and monsoon news are key drivers for the market, traders should follow SL strictly. As rupee is 57 level and RBI will be forced to intervene in managing cash flows, Hedge Funds trades (bulk deals) may break the specific strips levels. Nifty resistance likely to continue @ 5960 level and unless market closes above 6000, Bulls will not have grip on market.
NIFTY SPOT LEVELS:
Pivot: 5908
Resistance: 5945/6010/6047
Support: 5844/5806/5742
NIFTY FnO BAN: HDIL
STOCKS FOR DAY:
TATA GLOBAL EQ: BUY > 150 TRG 152-154 SL 147
NBCC EQ: BUY > 142 TRG 149 SL 135
THINKSOFT EQ: SELL < 69.25 TRG 68 SL 70
PUNJLLOYD EQ: SELL < 43.50 TRG 42 SL 44.25
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