MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 6030
Resistance: 6075/6102/6147
Support: 6003/5958/5930
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
BHARATFORGE EQ: BUY > 352 TRG 356/363 SL 347
VOLTAS EQ: BUY > 118 TRG 121 SL 115.75
IBREAL EQ; BUY > 47 TRG 48/48.50 SL 46.4
Friday Market has given pull back without much volumes and breadth. FIIs and DIIs both are at selling side.
But all momentum indicators have turn to positive direction. This
indicate bottom fishing has taken place by selective traders. Monday
vote on a/c budget will be presented by FM and it will give some
guidance to Bank Nifty. As per crowd theory/sentiment, always market move against feelers (90% loosers/gainers).
Since Nifty holds above 200 DMA and Bulls are in hope of Good Indicators
from Budget (even though figures are tentative), Nifty may rally till
6110/6120. As we indicated earlier unless Nifty closes above 6130, we cant' be confident off Up-movement of Nifty.
Today Nifty may open with positive note in line with S&P Nifty and Test 6110/6120 during Budget Session.
Day Traders can go for 6100 CE and book profit with smaller margins with strict SL (bearable individually).
Pivot: 6030
Resistance: 6075/6102/6147
Support: 6003/5958/5930
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
BHARATFORGE EQ: BUY > 352 TRG 356/363 SL 347
VOLTAS EQ: BUY > 118 TRG 121 SL 115.75
IBREAL EQ; BUY > 47 TRG 48/48.50 SL 46.4
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