THIS WEEK MOST OF DERIVATIVE PREMIUMS WILL BE NULLIFIED DUE TO EXPIRY OF SERIES. NIFTY OI RANGE IS IN BETWEEN 6000-6200 WHICH IS LOW THAN PREVIOUS CLOSE OF 6251. ALSO NIFTY HAS CLOSED BELOW 50DMA. ARRIVING NIFTY CLOSING LEVEL IS IMPORTANT TO BOOK THE PROFITS. SINCE FRIDAY CLOSING IS DOUBLE BOTTOM TO EARLIER WEEK LOWS, MONDAY OPENING AND CLOSING WILL DECIDE THE WEEK CLOSING, WHICH TRADERS GENERALLY WAIT.
TODAY PEER MARKETS HAVE OPENED POSITIVE NOTE AND TRADING WITH RANGE BOUND ALONG WITH OUR S&P CNX NIFTY OUR MARKETS ALSO LIKELY TO OPEN FLAT. 5960 LIKELY TO BE SUPPORT. DAY TRADERS CAN GO LONG @ 6000 LEVEL WITH SL 5960 FOR TARGET OF 6040.
MARKET SPOT LEVELS:
Pivot: 6006Resistance: 6039/6093/6118
Support: 5962/5929/5885
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
APOLLOTYRES EQ: BUY > 76.50 TRG 78 SL 75
RECDL EQ: BUY > 212.75 TRG 215/217 SL 210.75
ADANI ENT EQ: BUY > 244 TRG 247/251 SL 240
NMDC EQ: SELL < 129 TRG 125 SL 130.50
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