Great going

One day of fall and other day just opposite. Today opened gap up continued it's good momentum all around the day. Lower volume raise, and lack of momentum in Midcap counters tells the story, it's just a relief rally only. To add strength Nifty spot not able to cross previous day high of 4951.15 and almost made a double top over there at that point.

As expected the Oil counter stocks with NTPC and RELCAP moved inline with my expectation. The scripts to trade long mode tomorrow will be RNRL, ITC and SAIL.

Avoid taking long position on Reliance and just wait for a close above 1070, if not happen, the stock can test 3 digit again.Avoid overran fertilizer counter. The long position at current position will turn as a trap.


Nifty Spot levels for the day:

4860 - 4882 - 4914 - 4950 - 4991