Overall trend of Nifty is still looking bullish on chart trading above 200 & 50 DMA with an RSI of 54, if it manages to cross its next resistance mark of 6360 further upward movement can be expected and traders can also expect a target of 6420 & 6480 in near term; while on down side it has good support of 6140 only below this level further shorts can be seen
Stocks to watch:
JPASSOCIATES FUT:- Technically stock is looking weak on chart, it is sustaining on its rising trend line if it manages to breach its trend line steep fall can be expected. Thus one can go for sell position in JPASSOCIATES fut below the level of 46.80 for target of 45.80
SSLT FUT:-overall trend of the stock is strong , is further looking bullish on charts and is sustaining above its 10 and 50 days moving average . One can take long position in SSLT fut above 203.65 for targetsof 207.
By Vivek Gupta, Director Research, CapitalVia Global Research Limited
NOTE: The views expressed are those of the author.