Nifty FNO Tips

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The markets closed with moderate gains today with FMCG, IT and metal being the lead gainers. Banking, capital goods, realty and power lost significantly. The Sensex closed at 16918, up 41 points from its previous close, and the Nifty shut shop at 5128, up 10 points. The CNX Midcap index was up 0.5% while the BSE Smallcap index gained 0.1% in today's trade. The market breadth was negative with advances at 675 against declines of 745 on the NSE. The top Nifty gainers were HUL, Ranbaxy, Sterlite Industries and Maruti Suzuki while the biggest losers included Wipro,SAIL, L&T and Kotak Mahindra Bank.

For tomorrow Nifty future will open with negative nods. Major resistance for nifty future is 5155-5170 and having good support at 5095-5065. Below 5080 we can see sharp dip in Index and selling pressure will increase below 5065.Due to expiry, high volatility will maintain during the whole session.

According to us advise to go short only below 5105 with stop loss of 20-25 point for target of 5080-5065-5020, Or can buy once only above 5155 with stop loss of 5135 for target of 5180-5202-5240.

Our outlook is negative for short term and suggested to go short on higher level with proper stop loss

Share in bullish mode: - POLARIS                                                                                          

Share in bearish mode: -COALINDIA, ROLTA, HCC, IBREALEST, ICICIBANK, KOTAKBANK, SBIN and STRTECH