Hello and welcome!
We have Nifty close at 6015.25. A fairly weak close. As we are closed on a very strong support zone, might witness a bounce in Nifty on Monday, 25, Nov. It might prove only a dead cat bounce. 6240 is a very strong resistance and 5970 / 5980 is a decent support. break and close below 5970 will drag Nifty further down towards 5850 / 5800 kind of levels.
Close above 6240 will ensure the higher levels and even a new all time high. Eventually it will go to higher levels but it has to cross and sustain above 6240 consistently.
At this point in time, looking at the present condition of Nifty, bears have an upper hand. And I feel that some opportunities are still there, for the down side play. Here are some of them. please remember, these are purely positional calls and Not Intraday. Please avoid these stocks if you are not able to carry forward as it might not give you enough return on intraday basis.
One can Sell DISHTV for the down targets of 48 & 46.25. The strict Stop Loss must be kept at 53.25 on closing basis.
One can Sell TATAMOTORS for the down targets of 360 & 340. The strict Stop Loss must be kept at 385 on closing basis.
Some other stocks are also there which are showing prominent weakness but I guess these are the best. Let us see what happens in couple of days in coming week, which might decide the trend for the rest of the week.
Wish you all the luck
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