The Markets have seen a good run up from the immediate bottoms and seem to stabilise as of now. We will have a choppy and volatile trade this week ahead of the Railway and the Union budget. Nifty will see immediate resistance at 4941 and support at 4726. Overall the trend has turned up with the last week closing, but for taking fresh long positions Nifty traders should wait for a breakout above 4940.
High Risk Short Term traders can use dips to buy selective Mid-cap stocks and news related stocks with strict stoploss and using swift up moves to take profits. Others should wait for a breakout above 4940 for taking short term long Positions
Stock to Go Long : Glaxo, Maruti, AMTEK
Stocks to Go Short : HCC, KotakBank, LITL
Previous Outlook
1-February
We have seen a huge downside o the indices in the past fortnight, the NSE Nifty has corrected almost 400 points from the recent highs. Nifty has a very crucial support at 4750 and a resistance is at 5018. Unless the NSE Nifty is in this range we advice traders not to take any position in this range. Once we see a breakdown or a breakout on the either sides a fresh position in Nifty can be taken.
Overall the Nifty is going to remain volatile with upward trend in this week, investors and short term traders can buy selective mid-caps and large cap stocks which are close to the 100 days moving averages.
Stocks to Go Long: TataMotors, GNFC, Renuka
Stocks to Go Short: IFCI, KotakBank, LITL
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