The markets in the last week as expected managed to cross the crucial resistances and have further confirmed the on going uptrend. Now the markets will move in a direction with upward bias, with some dips, kind of panic creation movements in the markets. The traders should wait for such dips to find buying opportunities. Support for the Nifty lies at 5050-5000 and resistance is at 5156-5189
Short term Nifty traders can buy Nifty Futures and mid caps stocks and can add on dips, the overall upside targets remain intact. Also keep trailing stoploss on higher levels. Short term and medium term traders can also accumulate at current levels and lower levels. Petroleum Stocks ma outperform the markets
Stock to Go Long : JindalSAW, HCC, JSL
Stocks to Go Short : DCHL, MLL, UnionBank
Previous Outlook
2-March
The movement seen in the markets on the budget move have given a fresh breakout to the broader markets. The markets have managed to move out of the sideways zone and a new uptrend has started for short term. The next resistance is at 5052-5130, we can see the up move till 5120-5300 levels. The support lies at 4880-4810.
Short term traders can buy Nifty Futures and mid caps stocks and can add on dips, with overall targets as mentioned above. Also keep trailing stoploss on higher levels. Short term and medium term traders can also accumulate at current levels and lower levels. Public Sector banks, Cements stocks may outperform the markets in short term
Stock to Go Long : ACC, Ranbaxy, AMTEK
Stocks to Go Short : HDIL, OptoCircuits, TWL
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