MARKET TREND:
Yesterday market witnessed FIIs selling, Short coverage and Bottom Fishing of Beta Socks. On the whole range bound volatility. Ahead of RBI credit policy, Oversold market situation, going for short not advisable. With expectation of Int. Rate Decrease (RBI may support to Fin. Dep. as part of of package for Funds In-flows) Fitch.s Better Rating may be helpful to sustain the Nifty at present level. With 5680 - 5720 SL can go long. Once market crosses 5820-30 level short term uptrend can continue to the level of 5950-6000.
NIFTY SPOT LEVELS:
Pivot: 5764
Support: 5735/5710/5681
Resistance: 5789/5818/5844
NIFTY FnO BAN: HDIL
STOCKS FOR DAY:
IDEA EQ : BUY > 133 TRG 136 SL 131
LUPIN EQ: BUY > 767 TRG 778 SL 760
APOLLO TYRES EQ: BUY > 91 TRG 93.50 SL 89
SUNTV EQ: SELL < 399 TRG 379 SL 420
IFCI EQ: SELL < 23.7.75 TRG 21.75 SL 24.75
Yesterday market witnessed FIIs selling, Short coverage and Bottom Fishing of Beta Socks. On the whole range bound volatility. Ahead of RBI credit policy, Oversold market situation, going for short not advisable. With expectation of Int. Rate Decrease (RBI may support to Fin. Dep. as part of of package for Funds In-flows) Fitch.s Better Rating may be helpful to sustain the Nifty at present level. With 5680 - 5720 SL can go long. Once market crosses 5820-30 level short term uptrend can continue to the level of 5950-6000.
NIFTY SPOT LEVELS:
Pivot: 5764
Support: 5735/5710/5681
Resistance: 5789/5818/5844
NIFTY FnO BAN: HDIL
STOCKS FOR DAY:
IDEA EQ : BUY > 133 TRG 136 SL 131
LUPIN EQ: BUY > 767 TRG 778 SL 760
APOLLO TYRES EQ: BUY > 91 TRG 93.50 SL 89
SUNTV EQ: SELL < 399 TRG 379 SL 420
IFCI EQ: SELL < 23.7.75 TRG 21.75 SL 24.75
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