MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 6194
Resistance: 6259/6300/6365
Support: 6160/6088/6045
NIFTY FnO BAN: AURBINDO
STOCKS FOR DAY:
Adanipower EQ: Buy > 37.30 Trg 38.30/39 SL 36.50
Shasunpharma EQ: Buy > 86.50 Trg 89 SL 84
Ganesh Housing EQ: Buy > 77 Trg 85.50 SL 70
Yesterday Equity Market has got moral boosting by RBI action. Even Bond premium has been increased abnormally, which resulted cash outflows (temporarily) and Rupee Depreciation. Yesterday FIIs are net buyers in Equity and Index Futures by edging Options in double quantity. This kind of action indicates that Nifty will be more volatile in coming trading days. Even though derivatives range still is intact between 6000-6300, expected volatility may break this levels and create new range. In this view we advise day traders to participate in trade with Strict Stop Loss to minimise their trading cost. Yesterday all Peer Indices have closed in Green by taking FED news as positive.
Today market may open Positively in continuation to yesterday boost and Peer Markets' support. Yesterday closing may act as support for Nifty and close positive. Day traders can follow Movement Strategy/Elbow Trades and book profits at minimum levels.
Pivot: 6194
Resistance: 6259/6300/6365
Support: 6160/6088/6045
NIFTY FnO BAN: AURBINDO
STOCKS FOR DAY:
Adanipower EQ: Buy > 37.30 Trg 38.30/39 SL 36.50
Shasunpharma EQ: Buy > 86.50 Trg 89 SL 84
Ganesh Housing EQ: Buy > 77 Trg 85.50 SL 70
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