Nifty 7731/Sensex 25230/Bank Nifty 16407
Advance 15 Advances/36 Declines
Indian Markets showed a highly volatile session yesterday as Nifty 50 was hampered by global and domestic news as Q4 numbers from heavyweights and mid caps kept disappointing the market and made market highly unstable as news kept hampering market negatively as investors keep a stock specific view in such turmoil market.
Nifty 50 opened at 7814 and made high of 7821 as it looked to sustain its positional support of 7780—7800 but cracked to make low of 7722 before finally closing at 7731 with 0.24% decrease to index.
Investors should keep in mind:
(1). Nifty 50 trading near its important support of 7680—7650 and below this there is weakness.
(2).Secondly expiry week is near.
(3).Thirdly most importantly this is an attractive level to enter long term and overall FIIs strategy has been”Buy on Dip”. So Don’t enter as seller aggressively and get trapped in a bearish trap.
We Recommended Buying Maruti Suzuki (Fut) around 3910—3900.It made a high of 3968 before settling at 3912 again.
We also recommended Buying Biocon (fut) above 627. It made a high of 643.50 before it closed at 643.10. We booked Full profit around 640+ level.
“Hope you all Minted money” Just trade with level and you will mint money.
Still need trial... need not to worry at all. Watch more!!
Now what next??
Nifty Futures followed the same trajectory as Spot nifty as Nifty futures opened at 7735 and made high of 7816 before finally collapsing among domestic and global sell-off and hence made low of 7739 before closing at 7741 hence closed at premium of 10 to spot nifty.
Nifty futures is settled at 7741. It is showing near term resistance at 7840. If this level breach then we may see resistance building at 7890---7940 and then to 8000 mark
It has a near term support at 7730. Below this Nifty looks weak and could see panic till 7680---7650. Three consecutive closes + weekly close below 7650 will take to?
Bank Nifty also followed the same trajectory as global and domestic market kept hampering all sectors and eventually bank nifty also became weak as it opened at 16548 and from there made high of 16598 at opening session before it could collapse to make low of 16371 and finally settle at 16375 shredding 100 points or 0.61% decrease to index.
Currently Bank Nifty at 16375 has resistance at 16550--16580. If this level breach in coming sessions one may see next resistance building around 16800---17000.
It also has a near term crucial support 16300. If this level is breach then we will see further panic till next support of 16050—15900.
Trade with levels only. More will update during market hours
Today's Top Pick
Yesterday's top pick of BPCL not initiated.
Same level and same target. Below 910... if sustain then sell it.
More levels will provide only to our subscribers.
Today's top pick will update only on Android App
More will be update soon!!
