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We expect the long term fundamentals of the market to remain positive and hence advice investors to keep accumulating quality stocks on declines.
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Dear Trader…
Indian equity benchmarks made a comeback on Tuesday following four days of losses. Strength in metal, power and utilities shares led the rebound in the headline indices. Domestic stocks staged a gap down opening But, frontline indices thereafter recouped losses and rebounded into the positive zone in noon deals.
FII and FPIs, on Monday saw a net sold of Rs 4477.06 crore in the cash segment. A total of Rs 14578.13 crore was sold against a total purchase of Rs 10101.07 crore. Domestic institutional investors saw a net purchase of Rs 1412.05 crore in the cash segment. A total of Rs 7618.19 crore was sold against a total purchase of Rs 9030.24 crore.
Overall market is in consolidation mode as valuations are rich despite good quarterly performance. Global cues are keeping markets volatile – as inflation concerns have dominated headlines and the Fed starting the tapering programme soon.
We expect the long term fundamentals of the market to remain positive and hence advice investors to keep accumulating quality stocks on declines. In the near term however, market may remain under pressure until fresh positive triggers appears.
Dear Traders,
Nifty Future has resistance at 17505 – 17537 Point; above which other resistance levels are at 17575 - 17606 Point with highly Volatile Trend,
Nifty Future has Downside support levels are at 17404 – 17373 Point; below17373 Point, other support levels are at 17330 – 17303 Point.
I am positive for the next bullish trend only above @ 17575 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Nifty Future crosses @ 17575 Point, again then the upper side target is quite high and it may touch @ 17606 Point in the short term...!!!
Dear Traders,
Bank Nifty Future has resistance at 37373 – 37440 Point; above which other resistance levels are at 37474 – 37606 Point with highly Volatile Trend,
Bank Nifty Future has Downside support levels are at 37188 – 37007 Point; below37007 Point, other support levels are at 36888 – 36808 Point.
I am positive for the next bullish trend only above @ 37606 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Bank Nifty Future crosses @ 37606 Point, again then the upper side target is quite high and it may touch @ 37676 Point in the short term...!!
Ø Trading Idea for the derivative stocks….
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