MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 5375
Resistance: 5444/5487/5555
Support: 5332/5263/5210
NIFTY FnO BAN: FINANTECH, HDIL
STOCKS FOR DAY:
AARTIDRUGS EQ: BUY > 203.50 TRG 207 / 209 SL 201
POWER GRID EQ: BUY > 96 TRG 98.50 SL 95
MUKAND ENGG EQ: BUY > 20 TRG 21/21.75 SL 19.50
As we stated in our 19th Aug, note, Govt. /RBI started corrective/supportive actions. Those news turn as positive to the market and opened volatility. Since, market is oversold situation, we may see volatility with positive bias. As the RBI going to concentrate more on Rs. liquidity and bond yield and its arms are very short to focus on Industrial Growth, what ever RBI measures/adjustments, will not lost for long. For example, RBI advise banks to buy Bonds is the similar step. Banks will be forced to bear the losses in long run. All these steps are being taken against FED vowing, and to safeguard FIIs investments in India and in return to match supply & demand of USD.
Since, RBI steps have been projected as positive steps, and Market's positive trigger is on, Nifty may be lifted to the extend of 5600/5650. Positional traders may average their holdings and exit with little profit and minimum loss.
NIFTY SPOT LEVELS:
Pivot: 5375
Resistance: 5444/5487/5555
Support: 5332/5263/5210
NIFTY FnO BAN: FINANTECH, HDIL
STOCKS FOR DAY:
AARTIDRUGS EQ: BUY > 203.50 TRG 207 / 209 SL 201
POWER GRID EQ: BUY > 96 TRG 98.50 SL 95
MUKAND ENGG EQ: BUY > 20 TRG 21/21.75 SL 19.50
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