TODAY’S PERFORMANCE
Today nifty hit the first target.
STOCK MARKET TODAY
Nifty closed just above the critical resistant level 4950. Volume was good and market breath was positive. FII’s were net buyers for 1100-odd crores. Nifty resisted around 4950 levels through out the trading session only at the last 30 minutes trade it had a breakout and managed to close above the critical resistant 4950 levels. Technically in the price chart an up move pattern had formed.
STOCK MARKET TREND FOR THURSDAY
Again I suggest visitors to watch global cues for their intraday trade. Tomorrow, inflation data is to come. To my knowledge, I think inflation would be positive, as our RBI governor had anticipated 5% inflation rate by the end of the fiscal year. Continuously for past three trading session rupee had appreciated against dollar, so I feel tomorrow there would be some selling pressure on rupee. Would it happen then nifty may trade in tight range. I suggest visitors to keep an eye on the 4940 – 4960 levels and trade with trailing stop loss.
FREE INTRADAY TIPS FOR NIFTY
Technically in the price chart an up move pattern had formed, I suggest visitors to buy nifty only above 4960 levels with strict stop loss 4940. To my knowledge, tomorrow, there would be a tight range trade.
NIFTY LEVELS
BUY ABOVE - 4960
TARGET 1 - 5002
TARGET 2 - 5047
STOP LOSS - 4940
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