Market may open with a flat note and is expected show some recovery but as the major trend is still negative we may see higher level selling pressure with nifty having support at 5348 levels.
Sensex (18008)
Sensex has resistance at 18131, 18152, 18261 and 18318. Support at 19898 and 17800.
NIFTY (5395)
Resistance at 5421, 5429, 5468 and 5477. Support at 5375, 5368, 5350 and 5348 below further selloff.
RECOMMENDATIONS
1) RAMA PHOSPHATE (67.1)
The support is at 65 and 63.25. Resistance at 69 above it can test 71, 74 and more (Buy at declines)
2) HUL (273)
Support at 269 if moves below it may test 265 and more. Resistance at 276 and 279. (Sell at higher)
3) RCF (85.75)
The support is at 84.35 and 83.25. Resistance at 86 above it can test 89 and 90.
4) SIEMENS (848.5)
Support at 843 below 838. Resistance at 853 above 858 and 862.
5) AXIS BANK (1222)
Resistance at 1233 and 124785. Support at 1215 below further selloff is likely. (Sell at higher)
DERIVATIVE STRATEGIES
- SELL HCLTECH FUTURES AROUND 489 LEVELS
- SELL AUROBINDO PHARMA FUTURES AROUND 1162 LEVELS
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