It is Friday ...
Every trader want to sit on cash on week ends to ensure safety and to enjoy sound sleep...so be cautious profit booking can not be ruled out .. nifty is having nice support at 5180 level , for today's trade we are expecting range of 5180 to 5230 ...40
Gap down opening with selling mood is expected ...
trade in Nifty futures as per these levels
Buy at / above: 5238 Targets: 5253 - 5271 - 5289 - 5308
Stoploss : 5220
Sell at / below: 5220 Targets: 5204 - 5186 - 5168- 5150
Stoploss : 5238
FIIs were net buyers on 02 Aug 12 ,accumulated options of 1300 Cr Rs.
Nifty was in consolidation mode ..
few stocks are highly over bought and few are trading in oversold zone..so we may expect stock specific moves.