The NSE Nifty has managed to close above the level of 5178, now we may see some sluggish moves at the same level which would happen as a consolidation may take place at current levels. But the range is narrow, a close above 5242 will give much strength to the continues rally and we may see the levels of 5340-5444. Whereas on the down side we may see dips to 5050-5010, which shall be used for buying.
Traders holding Long position in Index (initiated at 4960) and other stocks should keep on holding the position with overall stoploss of 5000 and target of 5330-5400. Conservative traders can revise the stoploss to 5097 or take profit at current levels. But overall the trend is still positive, and as mentioned earlier also, the Mid-Cap stocks will continue to move upwards. Short Term and Medium term traders should hold long positions.
Stocks to Go Long: GujNRECoke, HCC, JainIrrigation
Stocks to Go Short: SBI, GAIL, NTPC
Previous Outlook
29-December
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
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