NSE NIFTY (5,550.35)

The NIFTY opened the session with a gap down on the back of extremely negative cues from its global peers. The NIFTY plunged to an intraday low of 5522 levels during the early hours of the day’s trade. But the NIFTY gradually recovered from its day’s low as the session progressed. The NIFTY finally closed the session at the 5550 levels with cut of 41.65 points. 

As we had been pointing out in our previous few daily trading notes the NIFTY pulled back from the 5600 levels during yesterday’s session. Sustenance below the 5600 levels will see the NIFTY pullback further towards the 5500—5450 levels. But, the 5400 to 5600 levels are likely to remain the broad trading range for the NIFTY over the upcoming few sessions of trade.  The near term moving average placed at the 5500 levels will act as good near term support for the NIFTY, whereas the 5600—5630 zone will act as stiff resistance for the NIFTY. 

We booked part profits on our long call given on ITC Ltd @ 196.70 levels. (Initiated @192.30 levels). The
recommendation has already fetched a smart gain of `8800/- per lot to the subscribers of our product Trading calls section.

We continue to hold our long positions for targets of `202 levels.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

We booked full profits on our Intraday long call given on SAIL Ltd @ 148.95 levels. (Initiated @ 146 levels). The recommendation fetched a smart intraday profit of `2950/- per lot to the subscribers of our product Intraday calls section. 
 
We recommend subscribing to our product Intraday Calls section to avail such profitable Intraday Trading strategies.

NSE NIFTY (5,592.00)

The NIFTY opened the session with nominal gains and traded on a very stable note throughout the day’s trade. The NIFTY spent the majority of the day’s trade within a narrow range of 5560—5590 levels. The NIFTY finally closed the session at the 5,592 levels with smart gains of 32 points.

The NIFTY has rallied close to 265 points from the lows of 5328 levels to 5592 levels over the past few sessions of trade. This smart up move has helped the index register a close above its key medium term moving average. We reiterate that the 5600--5630 levels is a key resistance for the NIFTY on the upside and further upsides from current levels can be seen only if the NIFTY closes above the 5630 levels for a few sessions.

Pullbacks from current levels will find support between the 5550 to 5480 levels.  

We booked full profits on our long call given on S.kumar Ltd @ 68.80 levels. (Initiated @ 64 levels). The recommendation fetched a fabulous gain of  Rs19200/- per lot to the subscribers of our product Trading calls section.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

We booked full profits on our long call given on 3i InfoTech Ltd @ 47.10 levels. (Initiated @ 44.80 levels). The recommendation fetched a smart profit of Rs 9200/- per lot to the subscribers of our product Trading calls section.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

NSE NIFTY (5,560.15)

The NIFTY opened the session with smart gains and the index continuously built on to the early morning gains as the session progressed. Strong gains amongst heavyweight index stocks like DLF, ACC, HDFC Bank, ITC and Hindalco propelled the NIFTY to an intraday high of 5571.60 levels.

The NIFTY finally closed the session at the 5,560.15 levels with a strong gain of 87 points.  The strong up move witnessed during yesterday’s session has helped the NIFTY register a close above it short term and medium term moving averages. But, we would like to point out that the index still has stiff resistance on the
upside between the 5600—5650 levels as the index has corrected from these levels on previous occasions. Thus failure to cross the above mentioned resistance levels could see the NIFTY pullback towards the 5500—5475 levels.

The 5450—5500 levels will act as strong support for the NIFTY on the downside.

We booked full profits on our long call given on Patel Eng Ltd @ 148 levels. (Initiated @ 138.50 levels). The
recommendation fetched a fabulous gain of Rs 9500/- to the subscribers of our product Trading calls section.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.

We booked full profits on our long call given on DCB Ltd @ 60 levels. (Initiated @ 56.45 levels). The recommendation fetched a smart profit of  Rs 14200/- per lot to the subscribers of our product Trading calls section.
 
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.