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Stock market trend for friday will be Consolidated. Market will be very edgy and traders and investors are advised to put strict stoploss in each trade while playing in the stock market
We are close to the bottom and the sentimental fall along with the global market is already done. Every decline should be used to buy stocks for a minimum of one-year perspective. PTC, IDFC, Biocon, Axis Bank look good from investment point of view. Indian market today opened with a positive note tracking the asian market. Opening market breadth is positive.
NIFTY SUPPORT AND RESISTANCE :-
SUPPORT :- On downside first support is at 5122-17 level.Next support is at 5103-98 level.
RESISTANCE :- Today the first resistance for nifty is at 5154-58 level.Next resistance is at 5174-79 level.
STOCK MARKET TIPS TODAY :-
We have a sell call on Axis Bank as we believe that the chart structure is about to break down on the downside. The stock can be shorted closer to a level of Rs 1220-1225 with stop loss above Rs 1250. Going forward We expect a level of Rs 1165 to be hit on the stock in coming days.
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