The major support level of Nifty will be in the range 5530-5550.
If market gets support in this level it can go up to 5730 which is the 1st Resistance of Nifty in this scenario.
If trade stabilize in this range then it can go up to 5820 which is the 2nd Resistance of Nifty.
The important thing is that FIIs are in the Buying Side, but Domestic institutions are in the selling side.
The upward movement of market will depend on mainly 2 things
1) Positive news about Monsoon. That will decrease the Inflation rate.
2) First quarter results. If results are excellent, then it will positively affect the market
So I advise that watch the above 2 conditions when the market reaches 5730 level and take an intelligent decision. A profit booking is advisable in the 5730 level especially in the case of retail investors.
The buying levels various stocks of different sectors are given below.
Please click on the picture to get a clear view.
I advise to make investments only in these ranges.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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