Market Today
Nifty edged lower in volatile trade as European stocks and US index futures declined. Index heavyweight Reliance Industries fell after its results as gas production is likely to stagnate at 60 million standard cubic metres of gas a day for the next 9-12 months. Two other index heavyweights ICICI Bank and Larsen & Toubro, too, edged lower. Realty, FMCG, banking and capital goods stocks also fell.
Nifty pared gains after a firm start triggered by higher Asian stocks. Nifty slipped into red in morning trade. It was marginally higher in mid-morning trade. The market was a tad higher in early afternoon trade after moving between positive and negative terrain earlier. Nifty hit a fresh intraday low in late trade as European stocks turned negative from positive.
Allover, Nifty breadth, indicating the health of the market was weak in contrast to a strong breadth earlier in the day. A crucial short term support is seen around the level of 5350.
Due to a very Nutural Direction seen in Nifty we have not recommended any PreMarket or LiveTrades for today.
:: Positional Nifty Alert ::
Given BUY around 5230 with SL 5180-65 to NEW-or-Fresh Positional Investers for Target 5542-5600 in July Expiry.
Given Start booking profit from 5450 (25%) - BOOKED Yesterday
Today we have hit our Revised StopLoss at 5400 levels.
So, we closed our Positional Trade with a gain of 220 points in 25% holding and 170 points in 75% holding.
:: Remember Always ::
We suggest to keep at least 1% of its price as SL in All Equity Stocks.
All our levels mentioned are of Future Nifty not Spot Nifty.
All PreMarket and Live Trades are for Intraday Trading only.
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...WISHING YOU A VERY HAPPY TRADING...
