Nifty Gunning most traders stop loss with Intraday volatility. For me Volatility always means trend is nearing an end or Temporary halt . 6000 Is major Psychological Number need to cross and hold on upside. FII's on nonstop buying spree. Last Few days No major delivery activity seen on Large cap stocks. So they must be concentrating on small/mid caps and selective stocks. Investors Might be cautious ahead of Result season and near term rate hike.
5916 is the key level in Nifty fut . Above that buyers and below that sellers will dominate. Charts suggest Longs are Liquidating. chances of Nifty future Hitting 5860 and 5815 are higher this week. 5938 Likely to act as Resistance on upside. 5862 to act as support on Downside. HAve strict Stoploss for all your trades. Make your Investment idea only at a good close above 6000.
Happy trading !!!!!!!!
Jay
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