- Nifty closed at 4935 level after making 4919 low.Before Derivatives expiry don't expect Nifty to close below 4900 mark.If it breaks we might eventually go below previous low 4720 to form a newer low and bounce again.
- For few months we might oscillate in a range of 4400 to 5600
- From 4900 levels Nifty should and will bounce.First hurdle comes at 4986 and sustainability above this level will take Nifty to 5020/5050 level.
- According to europe conditions if Nifty falls below 4900 then for the day good support exists at 4846 level.
- In my previous post i was mentioned about a tough resistance at 200 day average and this is second failed attempt to take out 200 day average.See the below chart
- Pick some good bets like Uco bank,Tata motors,Icici bank,Hindalco,Biocon,Tata steel,Orchid chemicals,Tata power,Unitech,Piramal health care,Andhra bank,Aurobindo,Bhel,Dabur,Idbi bank,Ntpc,Punjlloyd,Rolta,Siemens,Vijaya bank,vip industries for short term bounces
- And above mentioned stocks are neither tips nor calls.They are just to grow your your portfolio
- Invest Minimum 1 lakh rupees in above stocks equally and diversify your portfolio to minimize the risk.All the best.
Best to your Trading
Disclaimer:No positions in above mentioned stocks