Just like yesterday, today also a supply candle has formed in $NSE:NIFTY.
As soon as demand was seen in the morning, FII and DII (institutions) sold off their positions. The chart also shows clearly that they have started buying for June.
However, as I said earlier and still believe — stocks that are in an uptrend setup won't be affected much by Nifty or other indices falling. You can still trade them with proper stop-loss.
Nifty Resistance is around 24777–24804.
If it crosses this zone, we might see short covering up to 25000.
Supports are at:
- First support: 24590
- Second support: 24008
Keep in mind: the overall market mood is still positive. So if you get a good opportunity, you can short the index — but don’t hold short positions overnight.
For stocks, keep an eye on the Railway and Energy sectors.
Some stocks you can watch for swing trading opportunities:
HFCL
ITDCEM
HCC
Avoid chasing breakout stocks right now.
Don’t buy anything new for the short term. Wait — good opportunities are coming soon.
Take care, and always use a stop-loss.
As soon as demand was seen in the morning, FII and DII (institutions) sold off their positions. The chart also shows clearly that they have started buying for June.
However, as I said earlier and still believe — stocks that are in an uptrend setup won't be affected much by Nifty or other indices falling. You can still trade them with proper stop-loss.
Nifty Resistance is around 24777–24804.
If it crosses this zone, we might see short covering up to 25000.
Supports are at:
- First support: 24590
- Second support: 24008
Keep in mind: the overall market mood is still positive. So if you get a good opportunity, you can short the index — but don’t hold short positions overnight.
For stocks, keep an eye on the Railway and Energy sectors.
Some stocks you can watch for swing trading opportunities:
HFCLITDCEMHCC Avoid chasing breakout stocks right now.
Don’t buy anything new for the short term. Wait — good opportunities are coming soon.
Take care, and always use a stop-loss.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.