As mentioned last week that the support for the Nifty lies at 4940 on closing basis, the Nifty bounced back sharply from the same after making a low of 4948. Traders holding long positions in Nifty recommended last week can continue to hold long positions with the stoploss at cost or book profit at current levels. A fresh breakout has been witnessed on the last close (5178), overall the trend as mentioned previous week is bullish.
Traders holding Long position in Nifty and stocks should continue to hold positions and high risk traders can add more position when it falls below 5162 and again moves above it. Add only above 5165, with stoploss of cost of the existing position. Short Term and medium term investors can use dips to add more fresh positions majorly in Mid-cap stocks (for List of Hot Stock.. click here).
Stocks to Go Long: GIPCL, Tata Motors, TV-18
Stocks to Go Short: SKumarSYNF, ZEEL
Previous Outlook
21-December
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 (Stock shooted Up) , DivisLabs, Bharti
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