Day: Monday DAILY ACTION Date: 21+9+15
The European markets down by 2.5-3%, US DoW down by 300points and the Asian markets are also down by 1 to 1.5%.
Global selloff is on the cards due to slow down but may get some recovery with GREEK election outcome.
Indian Market Operation:
The SGX is suggesting 60 points down may keep many counters down by 1 to 2%. The banking lots may get support at lower levels may offer trading chance.
The markets may struggle to surpass 8020 and may touch 7850 in a day or two. The Bank Nifty with hope on rate cut may hold the ground.
Markets Possible Bull Scenario:
The Asian markets are also down, so Bulls may buy at lower levels
Today-Nifty Support Level@ 7893, and 7863 Resistance levels@8020, sell below 7949
Markets Possible Bear Scenario:
The Asian markets weak, so sell Nifty below 7950 for a target of 7850 in day or to with stop loss 7986
Counter Specific Action:
Delivery BULL Move-Scrip: Coal India buy above 341 sl @ 336 target of 365.
Day Trading BEAR Move-Scrip: Relcapital Resistance at 348 sell below 342 for a target of 332-328 with stop loss @ 350
Relcap Counter Specific News: No special News
Relcap Counter Specific F&O Positions: are light
