The bullish rally on the Nifty & Sensex has continued for a long time. Major resistances have been broken which suggests that we are in an overall uptrend. But during this uptrend we can witness some dips where buying opportunities for the short term or the swing traders will arise. Many such dips and rallies will be witnessed at the current levels of 5050-5100 as the market will try to make a base here for making new high’s or the breaching the previous highs. Investors and traders are advised to buy on dips with stoploss at around 4720. Overall up trend is intact.
For day traders and overnight traders on the Nifty Future I would recommend going short at currents levels with stoploss around 5180 for the immediate targets of 5009-4945.
Stocks to go Short: APIL, RelInfra, Hindalco, Sterlite
Stocks to go Long: Indusind Bank, Educomp, DivisLabs
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