A close below 6000 was already an exit for short term long positions as mentioned to the Paid Groups, and a close below 5900 has also marked an exit for medium term long positions also. The 200 DEMA supports of 5800 have also been broken. However, the downturn which started with the breaking of 6000 has probably ended today with Nifty_Spot, getting support at 5700 mark. So, traders can go long on Nifty.
Index Range (August Future):
Range: 5722 - 5855
Resistance: 5839 – 5891 - 5956
Support: 5773 – 5721 - 5655
Bank Nifty: 10070
Resistance: 10402 – 10536 - 10708
Today's call: Buy DLF Ltd at Rs.149, T--Rs.165, SL--Rs.162. India's largest real estate firm DLF has ended its "exclusivity contract" to sell luxury hotel chain Aman Resorts to the original owner and founder Adrian Zecha and has begun talks with a clutch of private equity funds and international hotel operators, which includes Blackstone and Carlyle.
Buy NMDC Ltd at Rs.98, T--Rs.106, SL--Rs.94. The disinvestment department has identified Coal India, National Hydroelectric Power Corporation ( NHPC) and National Mineral Development Corporation (NMDC) for buybacks.
Buy IRB Infra Ltd at Rs.72, T--Rs.81, SL--Rs.57. Also, buy, HDIL at Rs.32.50, T--Rs.37, SL--Rs.31 (keep, Re.1, SL and play).