NSE NIFTY (5,396.75)

The NIFTY opened the session with a positive gap and registered an intraday high of 5310 levels. The NIFTY witnessed selling pressure at the higher levels which led it to an intraday low of 5262 levels. The NIFTY eventually closed at 5278 with a nominal gain of 2 points.

The index seems to be consolidating in the narrow range of 5250-5325 levels for the last two trading sessions. As long as the index remains in this range we are going to witness choppy and volatile moves in the either direction. The index has immediate support at the 5250 levels and 5177 levels. A close below the 5177 levels would see the index gathering momentum on the downside and could test the levels of 5035 /4970 /4900 levels.

Upside resistances are placed at 5350 and 5420 levels.

NSE NIFTY (5,396.75)

The NIFTY opened the session on a bearish note on the back of extremely negative cues from its global peers.

The NIFTY spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.

The NIFTY registered an intraday low of 5389.80 levels during the final hours of the day’s trade and finally closed the session at the 5396.75 levels with a loss of 51 points.

The NIFTY has corrected over 100 points over the last two sessions of trade.

The sell off witnessed over the previous two sessions has finally taken the index below the broad
trading range of 5400—5550 levels.

The NIFTY can now slip towards the 5300—5250 levels over the upcoming sessions if it trades below the 5425—5450 levels.

Pullbacks from current levels will face stiff resistances between the 5450—5480 levels.


We booked part profits on our long call given on Apollo Tyres Ltd @ 77 levels. (Initiated @75 levels).

The recommendation has already fetched a smart gain of Rs 8000/- per lot to the
subscribers of our product Trading calls section.

We continue to hold our short positions for downside targets of Rs 80 levels.

We recommend subscribing to our product Trading Calls section to avail such profitable Trading calls.

NSE NIFTY (5,447.50)

The NIFTY opened the session on a flat note but the index moved southwards as the session progressed.

Selling pressure amongst key index heavyweights like SAIL, DLF, Axis Bank, Wipro and R Power dragged the NIFTY to an intraday low of 5438.95 levels.

The NIFTY finally closed the session at the 5447.50 levels with a loss of 53 points.

The NIFTY traded under pressure during the entire trading session.

With the cuts witnessed during yesterday’s session the NIFTY is now back to its key support zone of 5450—5425 levels.

A close below the 5425 levels will open up downside targets of 5300—5250 levels in the NIFTY.

The NIFTY has also registered a close below its key moving average clusters.

Hence, any upsides from current levels will find resistance between the 5500—5530 levels.

We booked part profits on our Short call given on Hindalco Ltd @175.50 levels. (Initiated @180.50 levels).

The recommendation has already fetched a smart gain of Rs 9700/- per lot to thesubscribers of our product Trading calls section.

We continue to hold our short positions for downside targets of Rs 168 levels.

We recommend subscribing to our product Trading Calls section to avail such profitable Trading calls.