Markets were marginally in the green in late morning trades after swinging on the either side of the dotted line within a tight range of 100 points. At 1125 hrs, the Sensex was up nine points at 20,507 and the Nifty was up seven points at 6,079.
The broader markets strengthened with the smallcap index adding over 1% and the midcap index gained nearly 0.9%, outperforming the Sensex which was flat with a positive bias.
On the sectoral front, Power, Consumer Durables, Auto and FMCG indices were down 0.2-0.4%.
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Nifty found support at 6050 after slipping below it yesterday. What are the key levels to watch out on benchmarks now?
Best trading strategy for Nifty traders would be buy on dips for a technical bounce uptil 6150 whereas strict stoploss would be 6020.
What is your take on Bank Nifty today. What are the top picks from the space to watch out? Your take on SBI
Bank Nifty trend is down on charts whereas next support is expected around 9800, best trading strategy for traders would be buy puts on rallies, HDFCBANK would be a sell on rise with a stoploss of 651 as per closing basis whereas next support on charts is expected around 600 & 580. SBIN is also a sell on short term post a small technical bounce in near term whereas resistance on charts is expected around 1580 and support on charts is at 1460. best trading strategy would be sell on rise...
Following is a question from one of our readers:
: What is your technical Outlook for M&M in this Feb series ?
M&M for FEB series: Stock is regularly making lower top and lower bottom on charts since December, as in the month if Jan stock has a sharp fall on charts, therefore in month of FEB it may attempt a technical bounce whereas stock would have two strong resistance 921 & 959. Best trading strategy would be for traders to buy and sell near resistance and for investors one could book profit between 921-959 as we might expect lower levels in month's to come.
United Spirits, Hero MotoCorp and PNB are currently buzzing on the volumes front? How do they look on charts
