MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 5944
Resistance: 5977/5999/6032
Support: 5922/5889/5867
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
BIOCON EQ: BUY > 301 TRG 312 SL 295
RELIANCE EQ: BUY > 896 TRG 909 SL 887.5
IDEA EQ: BUY > 156 TRG 161 SL 152.75
EXIDE EQ : BUY > 120 TRG 129 SL 115
As our Traders and Investors have become sensitive to market (low confidence), yesterday market was over reacted. But FIIs are in long in Derivative section. But value buy has taken place in FMGC and other defensive stocks. Surprisingly Open Interest range has been increased from 5600 to 5800, even though upper range of 6000 has not been changed. Yesterdays Nifty high is critical to break the range of 6000. If it is break and close above 6000, market may get short term upper range. If it is not broken, market may be range bound for shorter period. Govt. structural (FDI) announcements may boost FIIs sentiment and take advantage of market.
Pivot: 5944
Resistance: 5977/5999/6032
Support: 5922/5889/5867
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
BIOCON EQ: BUY > 301 TRG 312 SL 295
RELIANCE EQ: BUY > 896 TRG 909 SL 887.5
IDEA EQ: BUY > 156 TRG 161 SL 152.75
EXIDE EQ : BUY > 120 TRG 129 SL 115
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