Sorry! Due to computer problem I could not update yesterday.
STOCK MARKET TODAY
Nifty closed just above the critical support 4620 levels. I feel this is due to weak Europe market. FII’s were net sellers for 600-odd crores. Market breath was negative and volume was good. Technically today’s close was a weak close and nifty finds difficult to sustain above 4734 levels.
STOCK MARKET TREND FOR WEDNESSDAY
I find no big negative factors to stem nifty further. Monsoon turns positive, GDP was up to expectation and drought measures are on full swing, the global cues are the hurdles for nifty up move. Would global cues turn positive then we will see nifty to revive. I suggest visitors to watch out global cues for their trade.
FREE DAYTRADING TIPS FOR NIFTY
Technically in the price a weak pattern has formed. 4620 levels should be watched carefully for trades. To my understanding I suggest visitors to buy only above 4620 levels with strict stop loss 4580.
NIFTY
BUY ABOVE 4620
TARGET 1 4680
TARGET 2 4734
TARGET 3 4770
STOP LOSS 4580
THANKS FOR VISITING!