Sensex, Nifty end lower; banks & IT drag, metals gain....!!
Indian Markets opened lower yesterday among weak Asian and Global market and showed some support at 7800 for a long time before finally settling at 7806. Among all weakness it opened lower at 7823 and from there showed some little resilience by making a high of 7830 before it could come under selling pressure and made low of 7777 before finally settling at 7806 with 0.56% change to the index therefore shedding 44 points for the session.
Our buy call on VEDL proven great. Told to buy around 106.50---106.00. Made a high of 112.40.
Our 2nd buy call was Capital first in cash. Told to buy around 439---435. Too flared and made a high of 449.
Not this only... we have minted money in M&M finance and INOX Wind too.
Hope you all minted money in L&TFH too. From 72---76.50.
We have started option strategy from yesterday's trading session.
We recommended buying in Vedl call of 110.00 at a Premium of 5.00. It made a high of 7.10. We booked part profit around 7.00
Our tiny stop loss of 12 points in Nifty triggered but need not to worry. Over all in profits.
Still need trial... need not to worry at all. Watch more!!
Now what next for today??
Nifty spot has support at 7770---7720 and resistance at 7880---7940---8000. We will expect range bound trading in Nifty. Either side break or close with volume will decide further. Till then traders can trade safely with levels only and wait for confirmation
On the other hand... Bank nifty spot has support at 16500 and resistance at 16900---17050. Same here... either side break or close with volume will decide further.
More will update during market hours
Today's Top Pick
Tech Mahindra... support at 475 and resistance at 485.
Below 475... we will see panic till 465---458. Three consecutive closes + weekly close below 458 will see free fall in Tech mahindra.
Hurdle and stop loss above 485.
More will be update soon!!
