MARKET TREND:
Today our likely to open with Negative Bias with influence of Peer Markets and as we see Shorts in the System, market likely to close in Negative till FIIs go for Short Coverage.
NIFTY SPOT LEVELS:
Pivot: 6524
Resistance: 6541/6558/6576
Support: 6506/6488/6470
NIFTY FnO BAN: LNTFH
STOCKS FOR DAY:
6500 / 6600 PE TRADING WILL BE RIGHT CHOICE TO MINIMISE OUR INVESTMENT COST.
Yesterday
Market has faced another consolidation by witnessing shifting of
Portfolio Shifting. FIIs have purchased 2709 contracts but, OI
increased by 24307 contracts (by selling more > 8k longs and holding
> 10.8 k shorts), this indicate FIIs are holding positional shorts.
This was support by 6700 CE OI increase. But highest open interest
range is unchanged between 6400-6600. Simulator Action of US, has
given negative signals to US and Europe Market and has been closed in
negative. Unless our Nifty closes above 6550 or Below 6480, our market can't take clear direction and till that time, we have to follow strict SL.
Today our likely to open with Negative Bias with influence of Peer Markets and as we see Shorts in the System, market likely to close in Negative till FIIs go for Short Coverage.
NIFTY SPOT LEVELS:
Pivot: 6524
Resistance: 6541/6558/6576
Support: 6506/6488/6470
NIFTY FnO BAN: LNTFH
STOCKS FOR DAY:
6500 / 6600 PE TRADING WILL BE RIGHT CHOICE TO MINIMISE OUR INVESTMENT COST.
No comments:
Post a Comment