Positive opening is expected by Nifty Futures: By 5-10 points in range of 5550-5555
>> It is in down trend
NiftyFutures is in down trend and closed below the important support level of 5600. So, further weakness can be expected in Nifty till 5500 levels.
>> Support for Nifty is at 5550 and 5500
>> Resistance for Nifty is at 5630 and 5680
BankNifty Futures was closed near 52-week lows and not showing any signs of reversal. So, further weakness can be expected in Bank Nifty till 9500 levels.
>> Support for Bank Nifty is at 9700 and 9550
>> Resistance for Bank Nifty is at 9900 and 10000
Stocks to watch for today are:
>> Adani Ports
>> Coal India
Intraday Stock Calls Today:
1. Shriram Transport Ltd is a 'BUY' call with a target of Rs 685 and a stop loss of Rs 625.
2. Dr Reddy's Lab Ltd is a 'BUY' call with a target of Rs 2350 and a stop loss of Rs 2180.
3. Delta Corp Ltd is a 'BUY' call with a target of Rs 62 and a stop loss of Rs 49.
4. BPCL is a 'BUY' call with a target of Rs 277 and a stop loss of Rs 269.
5. Reliance Infrastructure Ltd is a 'BUY' call with a target of Rs 339 and a stop loss of Rs 328.
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