Yesterday we have seen a good bounce back in Nifty from its
lower levels. It made a day low of 7640 and bounced back.... made high of 7722
and finally settled at around 7708. While we have suggested to go long in it
with SL of 2605 during market hours on App update.
Our Sell recommendation in Apollo Tyres and India Bulls
Housing Finance proven great. While our buy call in Hind Petro too flared and
made high of 836.50 we have suggested to go long in this script from 824 levels
and book full profit at around 835.
Now what to expect today?
Nifty future has strong support at 7650--7635 levels and
resistance at 7750-7785. Market is dicey and we can witness zig zag movement pattern
in today’s trade.
Either side break will decide further direction of Nifty
Future in coming days.
Today we will expect zig zag pattern in Nifty and Bank Nifty
and pressure can be seen in both. So traders can trade safely with levels only
and wait for confirmation.
Today's top pick
Today’s top pick will be updated during market hours only on
our Android App.
