Nifty closed the day at 4,855.75 up by 53.8 points. Nifty February Future closed at 4,890 premium of 34.25 points.
- FII bought in index futures, cash and index options (Net bought 957.3 Crore)
- US markets was Positive.
- Global cues are flat to Positive.
- SGX nifty is Positive as of now.
- Most Active February Nifty Call Option: 4800 and 4900.
- Most Active February Nifty Put Options: 4800 and 4700.
Nifty after showing a late and well awaited 1.5% move today in dying hours of trade took everyone by surprise. Now as per the current technical trend we are on a crucial juncture of trend change in coming 2-3 trading sessions.
From High of 5309 to 4675 if we calculate the Fibo Retracement:
5 WEMA at 4892
38% retracement comes at 4916 and 50% retracement comes at 4992, closer to week high ema.
Any sell off from 38% mark should be limited to 4822 which is 5 Day EMA.
Current Spot: 4855.75
RSI (7 days): 51.45
Supports: 4805 - 4754
Resistance: 4893 - 4931
Buy Nifty above 4869 - 4907 - 4952 - 5013 SL - 4846
Sell Nifty below 4842 - 4807 - 4746 - 4701 SL - 4851
Buy Bank Nifty above 8389 - 8428 - 8485 - 8533 SL - 8327
Sell Nifty below 8255 - 8217 - 8188 - 8169 SL – 8337
Stock Ideas for the Day
Reliance Industries: Buy above 1020 for targets of 1022, 1028, 1038 SL of 1012
Reliance Industries: Sell below 1009 for targets of 1003, 999, 995 SL of 1017
Bharti Airtel: Buy above 278 for targets of 284, 296 SL of 276 (1-2 Days)
NTPC: Buy above 203 for targets of 204, 206 SL of 202
3iInfotech: Buy above 77.9 for targets of 79.4, 81 SL of 76.9
Brandhouse Retail: Buy above 33 for targets of 36.5 SL of 31 (One Month)
HDIL: Buy above 314 for targets of 331 SL of 306 (One Week)
Wide diversification is only required when investors don't understand what they are doing - WB
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
Thanks and Regards
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