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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