It remained a choppy trading session yesterday as all the positivity turned in to red territory on global cues.
Coal India, BHEL, Lupin, ICICI and TCS were top losers while Bharti Airtel, HDFC, Tata Steel, Tata Motors and L&T were gainers.
Analysts believe that this is correction phase after the rally of previous month and strategy should remain to buy at dips. If Nifty support of 7680 stands , this could be a level to buy again else 7400 mark could test if breach 7680 mark.
Nifty has ended below 7850, down 58.90 points or 0.7 percent while the Sensex slipped 207.27 points or 0.8 percent at 25229.70.
Bank Nifty followed the market trend and shed 154 points closing at 16388.
It remained a tough day although we booked profit in our calls. We booked full profit in Vedanta around 113.50. Recommended to buy around 106.50—106.
Our Favourite, Capital First proved great where we booked profit around 474, recommended to buy at 439—335.
Full profit was booked in Auropharma as well at 811, it was asked to buy at 802—800.
Still need trial... Need not to worry at all. Watch more!!
Now what next for today??
Nifty future has near by support at 7770, if the bearishness continues it can touch its next supports of 7730—7680 else it could test its resistance level 7880—7940—8000 again.
Fresh bullish rally will come only above 8000 mark.
Bank Nifty on the other hand closed below the support of 16500, so there are chances of the correction to continue and could test 16350---16200 mark. Immediate hurdle at 16650.
Trade with levels only...More will update during market hours.
Today's Top Pick
Tech Mahindra spot.. Told to sell below 475. It made a low of 466.
Below 465... we will see more downside panic 452---445 mark.
Maintain stop loss above 485
More will be update soon during market hours only on our Android App!!
