Yesterday... We have seen negative bias trading in Nifty and
Bank Nifty. Today is expiry day and we will expect high volatility in it. So
traders can trade safely with levels only. We will square up all position today
and fresh entry will initiate from tomorrow onwards
Our sell call in Lupin proven great. Told to sell around
2000. It crashed vertically and made a low of 1934. Still looks weak and could
test 1870---1830 mark.
CEAT... Made a low of 1156 and bounced back. We revised stop
loss at cost to cost.
Appolo tyres... We recommended selling around 191. Booked
profit around 189
Not this only... Our recommendation in Maruti...
Arrowcoat... proven great.
Still need trial... need not to worry!! Watch more
Now what we will expect today??
Nifty future has support at 8222. Below 8220 will see
further panic till 8183----8155 and then to 8093 mark.
More and more panic will
see only close below 8090 mark else it could test 8290---8330 again. Three
consecutive closes + weekly close above 8330 will see skyrocketed in Nifty
till???
On the other hand... Bank Nifty has support at 17800---17500
and resistance at 18000. Close above 18000 will see nonstop rally till
18400---18650 mark else it could test its support level of 17500 again.
Fresh selling can initiate only close below 17500 mark.
Nifty and Bank Nifty struggle at upper levels and could see
sharp downside move in days to come. Change in lot size of 5L per scrip will
affect market. So traders remain cautious and trade safely. More will update
during market hours.
Traders can hold short in Oriental bank. We recommended
selling around 140.
Today's
top pick
Ultratech... Last close at 2909. Above 2890 will see rally
till 2955---2980+ mark.
In panic will buy.... Support and stop loss 2830.
More will be update during market hours!!
