Our outlook is that there is a congestion zone around the 6165 levels even though the market is in a bullish mode.
That being said, the critical point for today is at 6101 and the index will trade accordingly with resistance at 6145, 6201 & 6245 and supports at 6045, 6001 & 5945.
Intraday traders are advised to go long if the Nifty opens and trades above the 6101 mark in the opening hour and in case it opens and trades below the 6101 mark then they may go short with strict stop loss at 6125.
Short term traders may go long around support levels if market weakens today with stop loss at 5988.
Mid term investors may offer HCL tech and HDFC bank in small lots as indicated in our previous post.
That being said, the critical point for today is at 6101 and the index will trade accordingly with resistance at 6145, 6201 & 6245 and supports at 6045, 6001 & 5945.
Intraday traders are advised to go long if the Nifty opens and trades above the 6101 mark in the opening hour and in case it opens and trades below the 6101 mark then they may go short with strict stop loss at 6125.
Short term traders may go long around support levels if market weakens today with stop loss at 5988.
Mid term investors may offer HCL tech and HDFC bank in small lots as indicated in our previous post.
Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.
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