NIFTY TODAY
Today nifty slide to the 5100 – 5200 range! It traded below 5200 level for nearly 4 hours and managed to close around 5203 level. Around 5160 levels it had found a good support and resisted around 5220 levels. Volume was very thin! After 32 trading sessions, FII’s turned net sellers today. FII’s sold for 755.51 crores! DII’s were net buyers for 569.64 crores. In past a few trading sessions FII’s buying had come down significantly! Technically a weak pattern had formed in the price chart. Market breath was negative with 9 advances and 41 declines.
NIFTY TOMORROW
As FII’s turned net sellers we should be cautious at every rise. Unless nifty able to sustain above the 5275 levels we cannot see up move further. Would nifty trades below 5205 levels and breaks 5160 levels, to my knowledge; we may see another round of selling. Below 5100 levels we may see a deep correction!
NIFTY TIPS
NIFTY LEVELS
BUY ABOVE 5220 T1 – 5255 T2 – 5275 STOPLOSS – 5205
SELL BELOW 5190 T1 – 5160 T2 – 5126 STOPLOSS – 5205
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