After making a big bullish candle in last session, today Nifty was under consolidation and traded in a range. Despite a negative closing, Nifty honored the sanctity of vital supports, which is a positive booster for buyers. As F&O expiry is on anvil, we may witness some stock specific actions rather any specific manifestation in benchmark indices. After an exception of yesterday, today, Bears again outnumbered bulls to regain the full control of the market and because of this, buyers’ strength may deteriorate in coming session. In today’s session, Nifty maintained its vital supports of 4900 and 4940. In line to a mediocre show, Nifty closed below the vital supports of 9 & 14day’s SMA placed at 4993 and 4998. 50 &100 day’s SMA levels were recorded at 5254 & 5329 levels, i.e. above the Nifty closing; these may be the resistances in forthcoming sessions. Buying in Large Caps, Small cap & Mid cap boosted Bulls to snatch control from bears, because of which, Indices closed with positive market breadth. In today’s session, VIX, the barometer of uncertainty, closed at a little corrected level of 32.00, but still it indicates a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 45.16 levels and MACD closed below the signal line, thus combined together they are giving the signals that; market may continue to witness consolidation in forthcoming session.
SOME WEEKLY SHARE MARKET CALLS:
Buy Central Bank of India below 92.69, target 114.15 for 2 Weeks
Sell HCL Technologies Ltd below 404.04, target 364.30 for 2 Weeks
Sell Bajaj Hindusthan Ltd above 38.88, target 33.33 for 2 Weeks
SOME WEEKLY SHARE MARKET CALLS:
Buy Central Bank of India below 92.69, target 114.15 for 2 Weeks
Sell HCL Technologies Ltd below 404.04, target 364.30 for 2 Weeks
Sell Bajaj Hindusthan Ltd above 38.88, target 33.33 for 2 Weeks
