Recovery in Global Markets, Indian Rupee etc. made Nifty to close at 5068.35 with a gain of 18.70 points. At last, Nifty closed above 200 DMA on daily as well as weekly basis which is at 5066. Major events that have to watch for the coming week are: (1)IIP data for April on 12th June; (2) Inflation Data for May on 14th June;
For today, views are almost same. WATCH 5067-5070 CAREFULLY. IF NIFTY TRADES ABOVE IT WITH VOLUME, THEN NIFTY WILL HIT 5100. ABOVE 5100, WE MAY SEE 5200/5227 IN VERY SHORT TERM WHEREAS ON THE DOWNSIDE, BELOW 5067, SUDDEN SELL OFF MAY PUSH NIFTY TOWARDS 5000/4970.
For today, views are almost same. WATCH 5067-5070 CAREFULLY. IF NIFTY TRADES ABOVE IT WITH VOLUME, THEN NIFTY WILL HIT 5100. ABOVE 5100, WE MAY SEE 5200/5227 IN VERY SHORT TERM WHEREAS ON THE DOWNSIDE, BELOW 5067, SUDDEN SELL OFF MAY PUSH NIFTY TOWARDS 5000/4970.
From options data,,highest options base has been shifted to 4800 & 4500 put and 5100 & 5200 calls. As of now, for June series, 4760/4800 may act as support and 5130/5200 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.
