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KRN

Do not think that nothing has happened in the market today!Do not think that nothing has happened in the market today and it was a pure sideways day. No, it wasn't. The intraday trend in NSE:NIFTY has tilted upward, but the daily trend got whipsawed today with sellers outnumbering buyers by 6.6 million volume. However, there was also buying push from the downside, and until that is held, we are good. When that breaks, we may see a downside in a few days. All this is happening because of #Banknifty. I have been saying that BNF is getting weaker. However, if the index closes above 25600, then all the negativity will be absorbed. Until then, the support stays at 25365 as written in yesterday's commentary. Individual stocks will do good, especially VCPs. Like today's NSE:KRN , NSE:RTNPOWER and NSE:JPPOWER If you are looking for a good short-term pick, #RTNPOWER must be on your list. NSE:BANKNIFTY is clearly messing with the trend—whether because of the Jane Street scandal or something else. But everything was clearly visible on the chart, so if you blame Jane Street or the Govt, don't call yourself a trader. No one will save you from such scams. They will continue because the market needs them. Only knowledge to read the chart can help you stay in the market in the long run. 56623 will be the support for BNF, and 57193 is the intraday resistance. Avoid taking positions with MTF. Avoid intraday as well unless we get a good closing in both of the indexes—mainly BNF. July is historically a bullish month for markets, but this time I am sitting on cash and not opening any new short-term positions. Waiting for the right opportunity. Let's see. That will be all for the day. Take care. Have a profitable tomorrow.
NSE:NIFTY
by Trendxinc