Budget Week
Hello Friends, first of all I am happy to share with you all that our blog got a traffic ranking of 8 lake over all the world and below 50,000 inside India by Alexa Ranking. It was all possible only because of your support and that too in this short time :).
Now on to this week market. Last week Nifty closed at a finer point at 4844, after some wild swings on Friday. We get to see some buying at lower levels and selling at around 4900 levels. But 4784 and 4812 will hold good support for this week. Friday's closing on SGX Nifty (4898) suggest for a gap up opening tomorrow.
Nifty if opens above 4884 and sustains for few min then day traders can initiate longs for an initial target of 4923. Once Nifty if breaks 4925 (fut) with volume on the first session, then we can target for 4976 intraday.
Sectors to be in long will be Autos and Banks. I expect bank Nifty to kiss 8677 in a day or two. But never ever carry any position for the next day until budget and trade safe :).
Now on to this week market. Last week Nifty closed at a finer point at 4844, after some wild swings on Friday. We get to see some buying at lower levels and selling at around 4900 levels. But 4784 and 4812 will hold good support for this week. Friday's closing on SGX Nifty (4898) suggest for a gap up opening tomorrow.
Nifty if opens above 4884 and sustains for few min then day traders can initiate longs for an initial target of 4923. Once Nifty if breaks 4925 (fut) with volume on the first session, then we can target for 4976 intraday.
Sectors to be in long will be Autos and Banks. I expect bank Nifty to kiss 8677 in a day or two. But never ever carry any position for the next day until budget and trade safe :).
Posts
