Nifty looks weak at higher end and expect correction
Nifty resistance 17840 and 18000 and support around 17500 and 17000 Nifty looks weak as per wkly chart but it is bullish in higher time frame charts. So nifty expected to fall or rangebound.
Bank nifty resistance around 38500 and 38800 and support around36500.
If nifty unable to sustain above 18000 then market may fall to 17500 or lower level. Even bank nifty unable to sustain 38800 then market expected to fall.
Stocks to trade as follows
NAME OF THE STOCK | ACTION | ACTION PRICE | STOP LOSS | TARGET |
TATA MOTOR | SHORT SELL | 522 | 540 | 440 |
TITAN | SHORT SELL | 2525 | 2550 | 2225 |
TRENT | BUY | 1120 | 1110 | 1170 |
TVS MOTOR | BUY | 670 | 650 | 750 |
WIPRO | SHORT SELL | 660 | 680 | 600 |
ADANI ENT | BUY | 1650 | 1600 | 1800 |
BAJAJ FINSERVE | SHORT SELL | 18230 | 18500 | 16500 |
GMR INFRA | SHORT SELL | 41 | 43 | 35 |
GODREJ PRO | SHORT SELL | 2300 | 2400 | 1800 |
IDFC FIRST BANK | SHORT SELL | 51 | 53 | 45 |
IOC | SHORT SELL | 131 | 135 | 120 |