There seems to be a little more upside left although the momentum may slacken a bit as signal of weakness are visible. The deciding point for the immediate direction of the immediate trend depends on which side of the 6016 point, the benchmark trades today. If it trades above 6016 then the immediate resistance will be at 6052, 6074 and 6110. On the other hand if it slips below the 6016 mark then the immediate supports are at 6010, 5995, 5959 and 5920.
The intra-day traders are advised to follow the trend depending on which side of the 6016 mark the Nifty trades. However, trades initiated today may be closed today itself. For those who are riding long positions, they may put their stop loss at 5892.
The mid-term investors may bid the following stocks as under
Asian Paint bid in small quantities at 4786.55 and 4757.35HCL Tech bid at 861.55 and 848.35
ITC bid at 341.35
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