YESTERDAY CALL
BOMDYEING
Today too I was wrong! This stock had an upside close. Sl triggered.
NIFTY TODAY
All long day 5368 levels had acted as a gravity centre for nifty. Nifty traded in a tight range and had a negative close. It had strongly resisted at 5388 and had strong support at 5355 levels. Volume was increased compared to the past six trading session. May be profit booking had been taken place. Technically a stopping pattern had formed in the price chart. However, nifty still stays above 20, 50 EMA. Both FII’s and DII’s buying had came down comparing to their past purchases. FII’s had bought 261.7 crores and DII’s had bought 81.07 crores. This should not be left unnoticed.
NIFTY TOMORROW
As FII’s purchases had come down, in my perspective, we should be very cautious on higher levels. For tomorrow trade 5383 and 5355 levels are to be watched carefully. To my knowledge, as monetary policy and quarterly results are ahead, tomorrow too we may a see a tight range trade. Apparently infosys results may not be to the expectation due to the rupee appreciation, every rise in nifty should be traded with care.
NIFTY LEVELS
BUY ABOVE 5383 T1- 5427, T2 – 5463, T3 – 5483. SL – 5368
SELL BELOW 5355 T1 – 5301, T2 – 5280, T3 – 5245. SL – 5368
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