Nifty Recommendation for Today

Nifty Spot View: 12/12/2022
Cmp: 18496.60
Support & Downside Range: 18410—18365—18300—18280 zone
Resistance & Upside Range: 18570—18665--18730

 
Short Term Trend Reversal Level: --

Nifty Recommendation

Trading View: Intraday bias remains sideways to weak till nifty is trading below 18665 spot levels and in such case downside crucial support to watch which is 18410 spot levels break below we may see a
short term pause in on going bullish market and we may fall downside till 18365—18300—18280 , upside till first crucial rest to watch is 18665 break and sustain above it bulls will start coming in action again.

For positional traders, these dips are an opportunity to add more but short term and intraday traders may feel the heat. On Friday, the Index broke important levels of 18500 but closed at 20SMA and made a low of 18440 approx. 

Our recommendation for the week is trading in a range with some dips till 18180. Fresh buying should be initiated only above 18675.

Nifty. Support is placed at 18440 and 18350 with resistance at 18600 and 18675. We would try to buy between 18400 to 18350.

Stock or Sector Recommendation

Cement stocks may see further rally of 10-20% from here on the back of lower crude oil and pet coke prices. Pre budget move is also expected.  (5% stop loss for any positional trade)

Update

Nifty live update 

cmp 18501 now here 18522 spot is level to watch break and sustain above it for 30 mins to 1 hr we may see more upside move towards 18665 levels and we may see a strong short covering so understand the importance of 18520 spot resistance here below 18520. We may see small cooling off till 18480-18440 spot levels

Nifty at all time High

Now trade with caution 

1. Donot use full capital in single stock

2. Diversify your portfolio in different sectors

3. Use strict stop loss, but SL at higher side 

4. Hold some cash in any downfall opportunity 

5. Dont Buy any stock in one GO ...like add some qty at cmp and then add more on any dip...

6. Book profit timely and regulary

Mid Afternoon Update

Nifty is consolidating for past 3 hours and can break out in any direction and trade in the direction of the breakout as direction is not known as of now.