Immense Caution while Riding the momentum, In Yesterday session Indian market faced volatility with profit booking and closed with losses. As we said in our earlier post Nifty has support around 5335-5325 and yesterday we have seen bounce around this level twice.
SENSEX closed at 17853,down by 80 points and Nifty at 5339, down by 22 points from the previous close.
The US market closed in Positive zone, The Dow jones closed above 11000 for the first time since september 2008. Meanwhile, the Nasdaq and the S&P 50 closed up 3.8% and 2.1% respectively from their previous close.
The Asian markets are trading mixed.
For todays session we expected Nifty trade in range between 5290-5390. Trader are suggested trade with levels.
Steel & Reality stocks can show buying interest.
Stock for Watch:
KALYANI STEELS LTD:
Buy around 248-253 with sl below 234 for tgt 275+
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