MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 5812
Resistance: 5844/5900/5932
Support: 5757/5724/5669
NIFTY FnO BAN: HDIL
STOCKS FOR DAY:
KNR CONSTRUCTIONS EQ: BUY > 76.50 TRG 83 SL 72 (LOW VOLUME TRADED)
TECH MAH EQ: SELL < 990 TRG 956-935 SL 1010
TCS EQ : SELL < 1510 TRG 1480 SL 1530
Yesterday market has given away 200 DMA also and put the market in oversold. Oversold has taken place, due to losing the breadth through midcap and smallcap stocks. Still some steam left over in Nifty stocks, which may take away today. Market may open flat and play range bound till CPI & IIP data releases. Since both CPI & IIP data expecting negatively (marginally) market may go for correction and get support at 5720 level through short coverages. As rupee value corrective steps initiated by RBI and USD data is not encouraging, our TECH stocks may witness correction.
Pivot: 5812
Resistance: 5844/5900/5932
Support: 5757/5724/5669
NIFTY FnO BAN: HDIL
STOCKS FOR DAY:
KNR CONSTRUCTIONS EQ: BUY > 76.50 TRG 83 SL 72 (LOW VOLUME TRADED)
TECH MAH EQ: SELL < 990 TRG 956-935 SL 1010
TCS EQ : SELL < 1510 TRG 1480 SL 1530
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