Nifty closed the day at 5273.60 down by 49.35 points. Nifty April future closed at 5277.3, premium of 3.70 points.
- FII bought in Cash (Net buy 99.70 Crore)
- FII sold in index futures and stock futures but bought in index options (Net sell 390.83 Crore)
- DII sold in Cash (Net buy 76.87 Crore)
- US market ended flat.
- Global cues are flat to Positive.
- SGX nifty is Positive as of now.
- Most Active April Nifty Call Option: 5400 and 5300.
- Most Active March Nifty Put Options: 5200 and 5300.
- Advance Decline for the day was 467:824
The range between 5383 and 5290 was finally broken on the downside after touching the resistance at 5373, confirming the bearishness. The immediate target is of 5180. Support closer to this level are at 5187 and 5167. A fall below these levels can accelerate the correction.
The 20DEMA is currently at 5268. If this level holds then the uptrend may resume.
Current Spot: 5273.60
RSI (7 days): 43.54
Parabolic SAR: 5382
Supports: 5235 - 5196
Resistance: 5343 - 5412
Buy Nifty above 5312 - 5345 - 5414 - 5454 SL - 5305
Sell Nifty below 5269 - 5240 - 5201 - 5131 SL - 5310
Stock Ideas for the Day
Reliance Industries: Buy above 1110 for targets of 1119, 1149, 1167 SL of 1101
Reliance Industries: Sell below 1085 for targets of 1076, 1059, 1028 SL of 1107
GujNreCoke: Buy above 90.5 for targets of 91.5, 93 SL of 89.7
Jai Corp: Buy above 278 for targets of 283, 289 SL of 272
Graphite India: Buy above 90.2 for targets of 92.1, 94.3 SL of 88.1
Lanco Infratech: Buy above 57.1 for target of 58.9 SL 56 (One Week)
Value Industries Ltd.: Buy above 26.15 for target of 28.50 SL 25.30 (One Month)
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
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S&P Wealth Creators
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