What's going on in Nifty?

Just like yesterday, today also a supply candle has formed in $NSE:NIFTY.

As soon as demand was seen in the morning, FII and DII (institutions) sold off their positions. The chart also shows clearly that they have started buying for June.

However, as I said earlier and still believe — stocks that are in an uptrend setup won't be affected much by Nifty or other indices falling. You can still trade them with proper stop-loss.

Nifty Resistance is around 24777–24804.
If it crosses this zone, we might see short covering up to 25000.

Supports are at:

- First support: 24590
- Second support: 24008

Keep in mind: the overall market mood is still positive. So if you get a good opportunity, you can short the index — but don’t hold short positions overnight.

For stocks, keep an eye on the Railway and Energy sectors.

Some stocks you can watch for swing trading opportunities:

HFCL
ITDCEM
HCC

Avoid chasing breakout stocks right now.
Don’t buy anything new for the short term. Wait — good opportunities are coming soon.

Take care, and always use a stop-loss.