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| SHOULD HAVE GUTS TO WIN..... |
YESTERDAY, EVEN THOUGH NIFTY STARTED FLAT (9 PTS UP), WENT ON UPBEAT WITH THE SUPPORT OF TECHNICALS AND IRAN NEWS. NIFTY HAS BEEN SHOOED TO 6124 AGAINST OUR EXPECTATION OF 6040. THIS ALL HAPPEN WITH GOOD ROLLOVERS BY FIIs WHO HAVE BOUGHT MORE THAN 1300 CR. AND SHORT COVERING. EUROPE POSITIVE OPENING ALSO SUPPORTED TRADERS TO BE ACTIVE. BANK NIFTY AND OIL INDICES HAVE BECOME BOOSTERS TO NIFTY. THESE REMAINING 3 DAYS (DERIVATIVES EXPIRY) MARKET WILL BE VOLATILE AND DERIVATIVE PREMIUMS WILL BE AT STAKE UNLESS WE ARE SHREWD.
TODAY MARKET MAY OPEN NEGATIVE WITH INFLUENCE OF PEER MARKET AND OUR SGX NIFTY. SINCE DERIVATIVES RANGE IS STILL IN BETWEEN 6000-6200, DAY TRADERS CAN GO LONG @ 6000 LEVEL WITH SL 5970. PROFIT BOOKING SHOULD BE SAFE GUARDED WITH TRAILING SL TILL NIFTY CROSSES 6150 LEVELS.
Pivot: 6092
Resistance: 6147/6179/6235
Support: 6060/6004/5970
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
IDBI EQ: SELL < 64.50 TRG 62.50 SL 65.5
TATA ELEXI EQ: BUY > 247 TRG 252/258 SL 241
UCO BANK EQ: BUY > 73 TRG 74.25/76 SL 71.50
BHARATFORGE EQ: BUY > 289 TRG 293/299 SL 283
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