Previous Day:First day of new F&O series Indian market closed negative with huge selloff in last hour. MIDCAP stocks were weak and sector wise, realty, IT, FMCG and banks ended with losses. Sensex below the 18000 mark though the Nifty just about managed to hold on to the important 5400 level. Sensex shut shop at 17998, down 227 points and Nifty at 5408, down 69 points from the previous close. The market breadth was negative with advances at 299 against declines of 997 on the NSE.
Next Day Trading Session:
IF nifty sustained below 5390 it may test 5290. 5460 may act as a strong resistance level. Traders are suggested to sell at every high as long as NIFTY is trading below 5460 and SENSEX is trading below 18265. REAL ESTATE, METALS and AUTO may face selling pressure while FMCG may attract buying.
For today Nifty take Support 5390 - 5350 - 5290
And Nifty take Resitance aroung 5460-5490-5520
Stock for watch:
Herohonda: Stock looking week on chart one can Short around 1783- 1787 SL 1805 tgt 1725-1700 in near term.
Aptech: Looking week on chart below 147 it can touch 140-138 in 4-5 trading session.
Also watch :
Cairn looking week on chart.
Perious calls
Eicher Motor: Has given 8% return in single day.
Hdil has given good return in day.
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