Last week... we have seen vertical crash in Nifty as well as
in Bank Nifty futures. Both crashed vertically and achieved our lower targets
very well.
Our sell call in most of the stocks has proven great. We
have seen panic selling in stocks specific too. Banking stocks, Pharma and
Reality stocks crashed vertically.
Now what to expect???
Nifty future has support at and 6880 and resistance at 7050.
We could expect that we will see dead cat bounce in Nifty future from lower
direction.
Buy on dips will be best trading opportunity as bottom
fisher will grab the opportunity.
On the other hand... USDINR still trading in a range and
either side break or close with volume will decide further. Chances are bright
for downside move in it but trade with levels only.
On commodity side... Gold flared like anything and hit
$1263. Now trading at $1235. It falls from upper levels as profit booking takes
place.
While Crude oil bounced back sharply from lower levels. It
jumped more than 10% from lower levels.
Healthy bounce from lower levels is good for energy sector
and global markets too. It will support equity markets too. Fear of double dip
may erase from the mind of Investor after its healthy upside move.
Traders can trade with levels only. More will update soon.
Today's Top Pick
Buy ITC future around 301. It formed harami pattern on daily
chart. Fridays low is very crucial in it.
Buy with stop loss below 298 on closing basis.
Target looks 306---310.
More will be update soon during market hours only on our
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