- Stock & Commodity Market Outlook 27-July
As mentioned in the previous outlook the NSE Nifty has managed to give two consecutive closing above the level of 5420, we can see the upside continuing for the coming days. On the weekly charts as well we have seen a clear breakout, which gives more strength to the trend. The rally may be non stop upto 5550-5570; at those levels we may see some consolidation taking place before a fresh trigger. Midcaps have started rallying but as expected the large-caps are in the trend and are the ones which are showing maximum upside momentum.
Traders holding long positions on Nifty Futures can continue holding long positions with stoploss of 5320, also fresh long positions can be entered at current levels with same stoploss. Short Term and medium term traders can build long positions in Mid-caps and small-caps.
Sectors to outperform : Auto , Auto Ancillary, Realty
Stock to Go Long : HDIL, ApolloSind, M&M Finance
Stock to Go Short : GAIL, TataSteel
Previous Outlook
12-July
NSE Nifty has shown a good upmove in a past few days, we can expect the same to continue for the coming days. The overall sharp upside can be expected if two consecutive closing above 5420, this will give a new trigger to the markets and bring then into a new wave where the upmove will be rigorous and most of the index stocks will see new highs being made. The large caps would be the flavour of the season for a few days if this happens and once they will start cooling we may see the party continuing in the midcaps.
For the Nifty immediate support lies at 5270-5230 and resistance at 5350-5420, out of this range only we will see some action. Traders holding long positions can continue holding long positions with overall stoploss of 5230 and at this point of time buy on dips is suggested with stoploss of 5230. On close above 5420 don’t remain short at all.
Stock to Go Long : Alembic, TataMotors, GAIL
Stock to Go Short : HCC, FCSSoft
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