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We recommend continuing with a stock-specific trading approach and focusing on the sectors which are seeing noticeable buying interest.
Photo Credit : Subhabrata Das
Dear Trader…
Indian equity benchmarks recovered from opening lows and ended more than half a percent higher on Monday, led by buying in Oil & Gas, Consumer Durables and Power stocks. The benchmarks edged lower in opening deals, as traders got anxious with a private report that the excise duty cuts on diesel and petrol will cost Rs 45,000 crore and lead to a 0.3 percentage point widening in the Centre’s fiscal deficit.
FII and FPIs, on Monday saw a net sold of Rs 860.65 crore in the cash segment. A total of Rs 13608.12 crore was sold against a total purchase of Rs 12747.47 crore. Domestic institutional investors saw a net purchase of Rs 1911.77 crore in the cash segment. A total of Rs 5022.08 crore was sold against a total purchase of Rs 6933.85 crore.
The recent buoyancy in the global markets has relieved the participants amid mixed domestic cues however it’s too early to call it a trend reversal. As the festive season is behind us, focus will shift back to earnings announcements. Besides, domestic macro data outcome (IIP & CPI) and global cues will be closely tracked.
Nifty future should make a decisive move above 18202 to resume the trend else consolidation/profit taking would resume. Meanwhile, we recommend continuing with a stock-specific trading approach and focusing on the themes/sectors which are seeing noticeable buying interest.
Dear Traders,
Nifty Future has resistance at 18188 – 18202 Point; above which other resistance levels are at 18218 - 18233 Point with highly Volatile Trend,
Nifty Future has Downside support levels are at 18108 – 18088 Point; below18088 Point, other support levels are at 18008 – 17970 Point.
I am positive for the next bullish trend only above @ 18202 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Nifty Future crosses @ 18202 Point, again then the upper side target is quite high and it may touch @ 18233 Point in the short term.
Dear Traders,
Bank Nifty Future has resistance at 39808 – 39930 Point; above which other resistance levels are at 40044 – 40104 Point with highly Volatile Trend,
Bank Nifty Future has Downside support levels are at 39575 – 39404 Point; below39404 Point, other support levels are at 39272 – 39190 Point.
I am positive for the next bullish trend only above @ 40044 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Bank Nifty Future crosses @ 40044 Point, again then the upper side target is quite high and it may touch @ 40104 Point in the short term.
Ø Trading Idea for the derivative stocks….
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