NIFTY TODAY
Today nifty traded in a wide range with negative bias. Volume had increased comparing to yesterday volume. Today nifty broke the neckline 5205 and closed above the important support level 5140. Market breath was negative with 4 advances and 46 declines. FII’s were net sellers for 29.68 crores. DII’s were net sellers for 438.08 crores.
NIFTY TOMORROW
To my knowledge, from here, I do not see any deep correction going forward. Nifty came down 75-odd points today, however FII’s remained net sellers for 29-odd crores! In my sense, nifty may move down to 5100 levels and not beyond that. Around 5130 levels nifty has strong support and this level should be watched carefully for tomorrow trade. As FII’s were not huge sellers today, I expect a pull back rally tomorrow. Nifty may trade in tight range with positive bias between 50 points or in a wide range retracing entire points that it had lost today. Let’s see what happens tomorrow.
NIFTY TIPS
BUY ABOVE 5160 T1 – 5180, T2 – 5203, T3 – 5225 STOPLOSS – 5144
SELL BELOW 5130 T1 – 5102, T2 – 5080, T3 – 5060 STOPLOSS – 5144
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