Intraday Stock Picks: Nifty View Today

Nifty witnessed the correction today from the levels of 5400 to 5420 & in the end closed near to the level of 5370. The next support for nifty future seems to be at the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. For the trading we recommend that traders should watch out the level of 5350, if it hold this level then one may go for long in nifty future for the targets of 5410, 5440 in near run. If it broken the level of 5350 & sustain below it for a while then one may go for sell in it with the slop loss around 5375 for the targets of 5305, 5260 in near run.

Sensex Trend

Sensex witnessed the correction today and closed in the end in red zone. Now the next short term support seems to be at the levels of 17350 to 17400. Closing below this support zone may slip it till the lower levels of 17100 to 17150 in near run. Technically we might expect the bounce in sensex from the support levels & may continue it's up trend.

NSE Nifty Trend and Outlook

Nifty witnessed the upside consolidation phase today. Overall it was high volatile sessions due to futures and options (F&O) expiry. Technically nifty still holding it's up trend & maintaining the upward rising channel on long time frame charts. In the downside it is getting the strong short term support close to the level of 5350. 

We recommend that traders may go for buy on dips in nifty future for the targets of 5450, 5500 in near run.

BSE Sensex Trend and Tips

Sensex was highly volatile for the whole day & in the end closed in the marginal green. The immediate support for it seems to be at the level of 17850. Closing below this support may drag it till the lower levels of 17350 to 17400 in near run. 

Technically the overall trend of the sensex is looking bullish & after some positive consolidation in the market we might expect fresh up rally.

Nifty Tips for Intraday Trading

Nifty witnessed the profit booking on higher levels & in the end closed in the red zone. In the lower side it is having the crucial short term support around the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty future still looking bullish and after some consolidation phase in the market we might expect the one more up rally in it. 

For intra day trading we recommend that traders may go for buy on dips in it until it close below 5350 for the targets of 5450, 5500 in near term.