From mid of the June market witnessing higher volatility due to pre-budget rally.Nifty moving around the levels of 7580-7800 levels since last few days.where 7623 is the most crucial level for the nifty. Overall Nifty is in
Uptrend. Charts structurally Still Positive after yesterday's fall. However on
account of overhead Budget, a fall or panic Dip up to 7450-7400 could not be
ruled out.
Out of Nifty heavyweights:-
- Reliance has already corrected 150 points or 13-15% from its recent high of 1145.
- ICICI is also oversold.
- ITC and Infosys are not looking bad at least; in fact Infosys is looking good.
- HDFC Bank and HDFC are market performers and could not fall more than 5%.
- In Such a scenario worst Nifty can fall is 3-4% from current
levels of 7623.The trading strategies should be to create longs at 7450 in spot with a Sl of 7290 for Targets of 7900 by mid august.
Bank nifty is consolidating between the 14400-14500. it may touch 15500-16000 to till the mid august or 14000 will be proved as very good supporting level for bank nifty.
More
about intraday tips on Google +
No comments:
Post a Comment