MARKET TREND:
Resistance: 6552/6592/6620
Support: 6483/6454/6415
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
Ganesh Housing EQ: BUY > 72.50 TRG 85 SL 70
Syndicate Bank EQ: SELL < 89.70 TRG 87.25 SL 91.25
Sail EQ : SELL < 58 TRG 56.25 SL 59.25
Yesterday we have witnessed profit booking and shifting to value strips. Yesterday trading volumes are lower than previous day and breadth also in negative. As moving indicators like MACD is in uptrend and Derivatives new series 6800 CE calls added in to system by taking OI to 6600 from 6500, indicates, that Bulls are not going to leave their stand easily. Still traders should be cautious as volume and value indicators are in negative side and market is in over bought situation. Unless Nifty breaks 6420/6400 bears will not get grip.
Today market likely to open negative/flat in line with peer markets. Market likely to be range bound in view of IIP data (mostly releases after market hours). If the Nifty breaks 6480, we may witness profit booking more aggressively.
NIFTY SPOT LEVELS:
Pivot: 6523Resistance: 6552/6592/6620
Support: 6483/6454/6415
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
Ganesh Housing EQ: BUY > 72.50 TRG 85 SL 70
Syndicate Bank EQ: SELL < 89.70 TRG 87.25 SL 91.25
Sail EQ : SELL < 58 TRG 56.25 SL 59.25
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