Nifty may face selling pressure around 5900 levels. On the downside, traders should keep an eye on 5750 levels. Short term indicators are indicating upward momentum to continue for the next resistance of 5900 levels.
Below mentioned are all the bearish stock from the F&O list, where best trading stratgy for trader would be sell on rise: ANDHRABANK is a sell target expected Rs 81.00CENTURYTEX is a sell target expected Rs 275.00 & Rs 271.00DENABANK
Smart Investor: Markets have recovered marginally after trading lower for most part of the trading session. The Nifty is trading tad above 5,900 levels as of now.
Nifty spot closed at 5985.95 this week, against a close of 5983.55 last week. The Put-Call Ratio has decreased from 1.12 to 1.03 levels and the annualized Cost of Carry is positive 3.18%.
Foreign institutional investors (FIIs) carried forward their bullish equity derivatives bets to the June series on Thursday when the May contracts expired.
Sell in May and go away’ didn’t really work well for the month that just went by. Divergence in the currency and equity markets kept participants guessing the direction. Nifty gained nearly 3 percent on expiry basis.