All world markets are making new multi year high. Our market is also trying to do some bounce. Nifty closed exactly at resistance area but closing above 5815 will be positive only, So it seems to be good for next move. Please try to buy on every dip. If we check, OI of nifty having strong support at 5700 level. 5700 PE holding 94 lak shares in OI& 5800 PE holding 70lak shares in OI. This march serious market may hold 5700 levels. In upper side now 6000 CE having 63 lak shares in OI. PCR (Put call Ratio)of nifty is now 1.16 with positive notes. 6100CE adds nearly 7lak shares in OI. If we consider all these things, market may go another 150-200 points upside.
We already said market may bounce any time, You can check Here. FII's now concentrating on F&O. Now Nifty & banknifty are giving EOD chart buy signal in SAR.
Bank nifty SAR gaves buy, MACD & RSI both starts to moving up, It takes U turn without testing 200DMA. So 200DMA looking to give strong support.It having minor resistance around 12050-12120, if it cross we may see 12500 very soon.
while we check nifty chart also all indicators now giving buy signal only, SAR gaves buy signal. MACD, RSI everything seems to be started to giving buying signal.It may test 5968 level one more time. So every technical levels giving buy signal only... keep max sl for all your long at 5740.
Nifty
Nifty resistance-5845-5853, 5888-5893(major)Nifty support - 5777-5783, 5745-5739 (major)
Stock calls
Tatasteel : Buy above 355 sl of 350 targetwill be 361, 365
Sun pharma : Sell below 797 sl 813 target
will be 785,777
PORTFOLIO ALERT
Please hold all stocks....THANKS & REGARDS
NSEBSENOW
