Important:

Market will be weak for first five minutes after open and most of the stocks will comeup for retracement. Therefore, don’t short on open and wait for opportunity to emerge at higher levels.

Secondly, today we may see three way movement in market. Gap down.. then moveup for retracement and finally thumbs down.  Wait for market to come your hand than chasing for trades.

Nifty Future:

Resistance around 6265 and crossover of 6275, it will move to 6300 – 6325

Support around 6205 and breaking 6190, it will fall to 6110 – 6085

Stock Future:

Short HDFC around 726 with SL at 734. TGT 685

Short Tata Steel around 646 with SL at 651. TGT 620 – 615

Happy Trading

C T Ramesh Raja