TODAY’S PERFORMANCE
Today nifty hit the first target.
STOCK MARKET TODAY
Nifty traded in a tight range today. Nifty crossed the 5000 levels and volume was very good. FII’s were net buyers for eye popping 2700-odd crores. However market breath was neither negative nor positive. It closed just above the critical resistant 4960. Technically in the price chart an up move stopping pattern had formed. I think reliance had stemmed nifty’s further up move.
STOCK MARKET TREND FOR FRIDAY
For past three days FII’s had bought 4600-odd crores. My understanding from previous data is that, when such huge inflows come in either market surges to mark new highs or plunges. Today market closed near the critical resistant 4960 levels. In addition the volume was very good but the market breath was indecisive in direction. I thought that rupee would have selling pressure today but that had not happened. Continuously for four days rupee had appreciated, still I feel there would be selling pressure on rupee tomorrow. Based on this I expect again a break out for tomorrow but I am unable to judge the direction, it depends on the global cues. Let’s see what happens tomorrow. Moreover I suggest visitors to watch for global cues and trade with stop loss.
FREE INTRADAY TIPS FOR NIFTY
Technically in the price chart an up move stopping pattern had formed. Tomorrow is the last trading session for this week and Monday is holiday. Here I give levels for both buying and selling. I suggest visitors to watch global cues and trade accordingly with strict stop loss.
NIFTY LEVELS
BUY ABOVE - 4960
TARGET 1 - 5002
TARGET 2 - 5060
TARGET 3 - 5118
STOP LOSS - 4940
SELL BELOW – 4911
TARGET 1 - 4880
TARGET 2 - 4820
TARGET 3 - 4740
STOP LOSS - 4940
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