NIFTY TODAY
Today, nifty rally was good and managed to close above the crucial level 5050. Market breath was negative with 13 advances and 36 declines. Volume was rather good. FII’s were net sellers for 1224.29 crores. DII’s were net buyers for 381.89 crores. Technically in the nifty price chart, a downtrend stopping pattern had formed. However as FII’s were turned huge sellers bothers me!
NFITY TOMORROW
For tomorrow trade as FII’s were turned net sellers we should be careful at higher levels. The 5140 level would be a significant level to be watched for tomorrow trade. Around 5225 levels we may see huge selling pressure. Technically we may see a wide range trade possibly with positive bias. However FII’s huge selling bothers me! Let’s see what happens tomorrow.
NIFTY TIPS
BUY ABOVE 5075 T1 – 5100, T2 – 5140, T3 – 5170 STOPLOSS – 5060
SELL BELOW 5050 T1 – 5017, T2 – 4985, T3 – 4960 STOPLOSS – 5065
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