Day Trad­ing Guide

The Economic Times - - Smart -

On Thurs­day, Nifty closed be­low an im­por­tant sup­port of 7580, which was the low­est level of the pre­vi­ous week. Tech­ni­cally, such for­ma­tion in­di­cates wor­ries in the short term. Be­low 7580, Nifty is hav­ing mean­ing­ful sup­port only at 7400 with a mi­nor sup­port at 7480. On the higher side, the level of 7640 may not al­low long traders to sur­pass in the short-term. Con­tra buy­ing is ad­vis­able around 7400 and sell­ing around 7640/7650 with a min­i­mal stop loss be­low and above the cost.

We should look for buy­ing me­tal stocks if the mar­ket falls to 7400 lev­els.

Sec­tor Watch:

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