Last week we have seen positive momentum in Nifty future
after 50bps rate cut from RBI. This
gives support to indian financial markets
Our buy call in Infy.. Idea... Coal India... and other
recommended stocks proven great.
Now what to expect today....
Nifty future has support at 7940 and resistance at 8050. Two
consecutive closes above 8050 will see nonstop rally till 8180---8255 and then
to 8350+ mark in days to come
Else it could test its support level of 7940 again. Further
panic will see only close below 7940 mark.
Two consecutive closes below 7940 will see sharp downside
move till 7860---7820 and then to 7750 mark in days to come
Now what about Bank Nifty...
Support at 17056 and resistance at 17616. Two consecutive
closes above 17616 will see sharp upside rally till 17827---17988 and then to
18031 mark. Further upside rally seen only close above 18031 mark.
Else it could test its support level of 17056 again. Further
panic seen only close below that mark.
Close below 17056 will take to 16876---16753 and then to
16613 mark. Three consecutive closes + weekly close below 16600 will see free
fall in days to come.
Here we will expect range bound trading in Nifty and Bank
Nifty though bias remain positive and downside seems limited but trade with
levels only.
Today's top pick???
Top pick will update during market hours on our blog and via
whatsapp!!
More will be update soon!!
