The Nifty witnessed a very crucial breakout last week at 4760; this has confirmed the existing uptrend and this level will prove to be a very important support for the nifty for coming weeks. As of now we can see some days of range bound movement in the frontline indices and stocks with nifty moving in the range of 4760-4960. Major consolidation will take place at these levels before touching and crossing the mark of 5000. We advice traders holding long positions to hold on with the stoploss of 4760 and also you can add fresh short on dips to 4810-4770.
Metal & Banking stock are expected to show some fresh up move in the coming days and botton fishing can be done in mid-cap banking and metal stocks.
Stocks to Buy : Hindalco , IOB, JindalSaw, Hindalco, GAIL
Stock to Sell : WelGuj , BharatForge , GVKPIL
Related Pages :
