The NSE Nifty is hovering in a 4940 and 5155 since past many sessions and we have not seen any clear breakout on the either side, although some mid-caps have shown huge run-up in this range. Any breakout or breakdown on the either side on Nifty (closing basis) will decide the short term trend for the next 2-3 weeks. In the medium term, markets are looking very bullish, we advice medium term investors to go long on dips.
Short term traders and High risk Nifty traders can initiate a fresh long position in Nifty with a stoploss 4920 on closing basis, on a close below 4920 go short, with stoploss of 5070.
Stocks to Go Short: DLF, HCC, Gail
Stocks to Go Long: GujratNRE Coke, DivisLabs, Bharti
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