MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 5885
Resistance: 5931/5962/6010
Support: 5854/5809/5777
NIFTY FnO BAN: FINANTECH
STOCKS FOR THE DAY:
DISHTV EQ: BUY > BUY 47 TRG 48.50 SL 46.40
IRB INFRA EQ: BUY > 76.25 TRG 78 SL 75
RELIANCE EQ: BUY > 867 TRG 876 SL 860
FROM LAST 7 DAYS NIFTY IS CLOSING ABOVE 200 DMA AND FORMED FLAG FORMATION. TODAY'S FED NEWS LIKE HIGH WIND TO FLAG MOVEMENT. MARKET LIKELY TO OPEN WITH HIGH NOTE AND MAY TEST THE 6000 LEVEL AND CLOSE IN GREEN BY END OF THE DAY. SINCE, TOMORROW OUR RBI POLICY IS DUE, AND MAIN TASK WILL BE TO HOLD THE CASH FLOWS IN COUNTER TO FED POSITIVES, RBI MAY NOT REDUCE INTEREST RATES (OBVIOUSLY MAY INCREASE INT. RATE MARGINALLY). BUT TO IMPROVE LOCAL CASH FLOWS AND GIVE LEVERAGE TO DOMESTIC LOANS, MAY REDUCE CRR.
SINCE, TOMORROW EVENT IS IMPORTANT TO FIIs TO PROJECT THEIR INVESTMENT YIELDS, THEY MAY BE AT SELL SIDE WHICH MAY PUT PRESSURE ON OUR NIFTY AT HIGH LEVEL AND INCREASE VOLATILITY.
TODAY TRADERS CAN GO SHORT WITH 6020 STOP LOSS FOR THE TARGET OF 5880/5890
Pivot: 5885
Resistance: 5931/5962/6010
Support: 5854/5809/5777
NIFTY FnO BAN: FINANTECH
STOCKS FOR THE DAY:
DISHTV EQ: BUY > BUY 47 TRG 48.50 SL 46.40
IRB INFRA EQ: BUY > 76.25 TRG 78 SL 75
RELIANCE EQ: BUY > 867 TRG 876 SL 860
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