NIFTY PERFORMANCE:
Nifty became favorite of traders by creating new records on every opportunity. Also Nifty playing on technical basis by leaving fundamental values. In this situation, we should be familiar with day pivots and respect that levels with conviction. But one should follow trend and it should not be challenged. Even though global markets are running with negative bias, from afternoon our Nifty no time turn back and it closed almost at high. India vix indicate that Option buying also taken place along with equity buying, which has to be analysed in due time.
STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)
JAIN IRRIGATION: SELL < 83.50/82.60 TRG 81.50 SL 84.60
ACTUAL: LOW: 81.35 HIGH: 83.90
ASIAN PAINTS: BUY > 663 TRG 671/683 SL 652
ACTUAL: LOW: 675 HIGH: 694.75 (PLAYED ABOVE 1ST TRG) CAN HOLD
SAIL: BUY > 84 TRG 89 SL 81
ACTUAL: LOW: 84 HIGH: 86.30 (CAN HOLD)
BHARTFORGE: SELL < 911 TRG 904/899 SL 917 (PE ARE ADVISABLE)
ACTUAL: LOW: 897.10 HIGH: 914.70
900 pe: LOW: 13.05 HIGH: 19.50
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