Markets opened on a low note as week ended with correction dominating the market as bears and bulls showed intense volatility for the entire day to hold or break 7550 level. Nifty opened at 7569 and made low of 7527 and finally settled at 7555 with 0.12% change to the index.
Sensex also showed range bound volatility and
was weak throughout the day as markets were unable to decide direction throughout the week as result of which Sensex was down by 11 points closing at 24673 with just 0.05%.
Our recommendations on Jet Airways , RamKrishna forging, NMDC are moving towards north direction.
“Hope you all Minting money” Just trade with level... Nothing else
Now what next for today??
Nifty futures seems to remain volatile in today's trading session. Nifty future has support at 7530 and resistance at 7600. Break and sustain above 7600 will take to 7640---7670 and then to 7730+ mark else it could test its support level of 7530 again.
Below 7530... we will see further downside panic till 7470---7440 mark.
7440 act as major support.
On the other hand Bank Nifty future too looks volatile.
Currently Bank Nifty has support at at 15400--15250 and resistance at 15900. We will expect range bound trading in Bank Nifty though bias remain slightly negative.
Traders can trade with levels only and wait for confirmation. More levels will update during market hours
Today's top pick
On Friday we have seen more than 1.50% gain in BPCL and seems that this rally will remain continue....
Above 902... Catch it. We will see rally till 922---928 and then to 945+ mark in days to come.
Support and stop loss below 880 on closing basis.
Above mentioned rates are as per future price scripts.
More will be update soon during market hours!!
