Hello Friends
Back again after a long gap. Missed quite a few weeks of trade, and think i had entered at a good time, from now i expect a relief rally after today's close. Fresh supply seen today at around 4940 level and at a certain point it turned out to be a day of shorter, made Nifty to close at the lowest point almost.
But this is a good level for traders and can initiate long's with a stop at previous resent low of 4766 and can expect a relief rally till 5055. But remember as of me it's not the time to get long term investment as the budget is just in front of us.
Swing traders can opt for longs on NTPC and REL CAP from current levels. Tomorrow it's an important day for NTPC so traders make stop at 200rs for that stock to initiate long positions. On a bounce above 5000 levels Investor can offload some of their position, since if a correction happens from that point again, it may be heavy and we may see fresh deep cuts all around.
News flow from petroleum ministry suggesting for a rally in Oil related stocks, so BPCL, HPCL and ONGC can be taken to your watch list for a short term buying.
But this is a good level for traders and can initiate long's with a stop at previous resent low of 4766 and can expect a relief rally till 5055. But remember as of me it's not the time to get long term investment as the budget is just in front of us.
Swing traders can opt for longs on NTPC and REL CAP from current levels. Tomorrow it's an important day for NTPC so traders make stop at 200rs for that stock to initiate long positions. On a bounce above 5000 levels Investor can offload some of their position, since if a correction happens from that point again, it may be heavy and we may see fresh deep cuts all around.
News flow from petroleum ministry suggesting for a rally in Oil related stocks, so BPCL, HPCL and ONGC can be taken to your watch list for a short term buying.
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