Be stock specific.....

The market ended near the day's lows, following major losses in oil & gas, metal and banking stocks on the back of weak global cues from Asian and European market. SENSEX closed at 17471, down 143 points and Nifty at 5241, down 47 points from the previous close.

The US markets are closed in green and the Asian markets are also trading at higher. We expect a higher opening on the back of strong global cues.

In today's session Nifty is expected to attract buying at lower levels 5200-5220 and sustaining above 5280 may attract more buying. However 5165 may act as a strong support level while 5300 -5320 are strong resistance zone for the next session.

For now 5150-5390 is a range for market in short term, Only a move below 5150 should be a caution signal for stock specific longs. On other side 5400-5450 is a medium term resistance zone for nifty.

Expect stock specific moves to continue with slow moves on index. Traders are suggested to avoid Leverage and be strict with stoplosses.

Market action can be expected stock specific....

Yesterday Indian Indices closed in green on the back of positive cues from Asian and European markets. Huge buying especially in IT, OIL-GAS and FINANCE SECTOR, resulting in the SENSEX closing at 17614, up 173 points and Nifty at 5289, up 53 points from the previous close.

The US markets are closed in positive and The Asian markets are trading in red zone.

In today's session Nifty may attract buying if traded above 5315-5325 levels. However 5375-5410 may act as a resistance zone. In the lower side 5255 is a strong support for today's session.

Yesterday's pullback can also be considered as bounce from an oversold zone. In market action can be expected stock specific because of result season, Traders are suggested to ride the momentum cautiously.

Range Bound market need to cross levels.....

After a choppy range bound trading session moving just about 50 points in either directions, the Indian Indices closed in negative terrain. Yesterday Sensex closed at 17441, down 19 points and Nifty at 5235, down 1 point from the previous close.

The US markets were shut yesterday on account of Independence day. The Asian markets are trading in weak zone.

In today's trading session 5210-5285 might be the range of Nifty; below 5210 it may test 5180 and if moved above 5285 it may test 5320-5330. However, market is expected to attract buying at lower levels.

Continue to remain range-bound.....

Market faced heavy selling pressure because of weak global cues yesterday, METALS and BANKING-FINANCE faced major sell off. The Nifty managed to close just above the 5250 mark. FMCG, TELECOM and PHARMA attracted buying. SENSEX closed at 17509, down 191 points and Nifty at 5251, down 61 points from the previous close.

The US markets are closed in negative terrain & Asian Indices also not doing well.

In today's session 5120 and 5165 may act as a strong support level for NIFTY while 5290 and 5310 are strong resistance levels. However, NIFTY is expected to trade in the range 5160-5280 in the next session. Traders are suggested to be cautious of short selling if NIFTY successfully holds 5165 level.

For now Indian indices may continue to remain range-bound unless global market cues turn extremely adverse. Continue the strategy of buy on dips and exit on rise of index.

Back with Market view.... :)

Back with Market view.... :)

Yesterday Indian indices outperformed and ignored weak global cues from US and ASIAN market. Huge buying activities in OIL-GAS, FMCG, along with MEDIA sector led SENSEX to close at 17700, up 166 points and Nifty at 5312, up 56 points from the previous close.

The US markets are closed in negative and Asian markets are also trading in red zone,, So we expect a lower opening in Indian Indices.

In today's session Nifty is expected to trade in the range 5280-5380. 5380-5400 is short term resistance zone for Nifty if crosses then big up move expected. At down side 5210 is strong support for Nifty. Traders are suggested to watch levels & follow the strategy of buying at dips. Market view is positive.

ABAN looking good, If sustain above 852-855 then can touch 900-925 in near term.