Record low for Rupee against US Dollar forced Nifty to surrender all its intraday gain, and finally, made Nifty closed at 4860.50 with huge loss of 45.55 points (nearly 1%). As said yesterday, Trend is still down and we may take it as reversal only if Nifty cross atleast 4970 with volume.
For today, WATCH 4870-4882 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4910/4930, EVEN 4950 ON THE UP SIDE WHEREAS BREAKING 4850, NIFTY MAY HIT 4830/4830 AND EVEN 4780 ON THE DOWNSIDE.
For today, WATCH 4870-4882 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4910/4930, EVEN 4950 ON THE UP SIDE WHEREAS BREAKING 4850, NIFTY MAY HIT 4830/4830 AND EVEN 4780 ON THE DOWNSIDE.
From options data,,highest options base has been shifted to 4700 put and 5000 calls. However, as of now 4780/4800 may act as support and 4970/5000 may act as resistance.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.