YESTERDAY CALL
Today nifty hit first two support levels.
MARKET VIEW FOR TODAY
Nifty today too saw selling pressure. FII’s were net sellers for 600 crores. Form Monday to till date they have sold hardly 1500 crores. Still nifty didn’t break the 4340 support. Technically, today’s trade, I would say it has a waiting pattern. Lets see market behaves tomorrow.
MARKET VIEW FOR THURSDAY
Inflation data is to come. The 4340 levels would be important for the nifty direction I feel so. Would nifty break this level then the fall might be very steep. As montek sigh alluwalliah told today that rabi crops output not be that affected by poor monsoon was positive news for market I feel the movement would be upside for the nifty. As for past three days FII’s were huge sellers I feel there may be buying seen on their side.
NIFTY LEVELS
Technically in the price chart waiting pattern was formed. I suggest visitors to watch 4340 and 4480 levels for trades. I suggest buying nifty only above 4513 levels.
SUP: 4370, 4340, and 4290. RES: 4440, 4480, 4513, 4570, 4620. STOPLOSS: 4340.
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