Panic continues in Nifty and Bank Nifty and this panic
remain continue in today's trading session too. Yesterday Nifty and Bank Nifty
breached its new 52 weeks low. We clearly indicated to sell Nifty below 7380
mark.
Too many stocks are trading near or below 200 days moving
average. Daily panic will create negative mindset of Investor. A strong bull
rally need to give confidence. Let’s see what will happen as all answers are in
the dearth of future.
On the other hand... Dollar Index crashed and made a low of
95.5080. We recommended selling below 97.50 and 95.80 mark. Below 95.50 will
see more downside panic till 95.20---94.50 mark. 93.00 act as major support for
Dollar Index. Further upside rally will see only weekly close above 100.50 mark
or will buy on reversal.
USDINR... Support at 67.90 and resistance at 68.60. Either
side break or close with volume will decide further.
Our sell call in DRREDDY proven great and hit 2825 mark
We recommended selling in Tata chem around 362. It crashed
and made a low of 350.
Too recommended selling in Asian paints around 890. Panic
continues and made a low of 866.50.
Still need trial... need not to worry. Watch more!!
Now what to expect on Nifty future???
Nifty future has support at 7220 and resistance at
7300---7380.
Below 7220 will see more downside panic till 7170---7130
mark. More and more panic will see only weekly close below 7100 mark else it
could test its resistance level of 7300---7380 again. Positional buy only
weekly close above 7380 mark.
On the other hand.. Weekly close below 14700 will take to
14250---13900 mark in days to come.
Immediate hurdle at 15050.
Trade with levels only... More levels will update during
market hours.
Today's top pick
Bharti Airtel.. Support at 308 and resistance at 315.
Decisive break and sustain below 308 will take to 302---296
and then to 280 mark in days to come else it could test its resistance level of
315 again.
Break and close with volume above 315 will see further
upside rally till 321---324 and then to 332+ mark in days to come.
Trade with levels only.
Today's 2nd top pick
Reliance Industries...Below 950. Sell it. We will see panic
till 925---910 mark in days to come.
Hurdle intact at 980. We clearly recommended selling below
1045 mark.
Remember or not???
Just trade with levels only.
More will be update soon during market hours only on our
Android App!!
