last week Nifty50 managed to achieve our first target of 9250!
here is the link to our market study last week -
https://marketwalas.blogspot.in/2017/04/learning-stocks-market-outlook-for-3417.html
Nifty50 is still at a very interesting stage.
It has already rallied a lot and looks a little tired.
Of course the direction still remains up ...
only worrying thing is the speed at which it has gone up which makes it more n more risky.
Best buying areas now could be near 9100 or when Nifty finds support above 9170.
9000 for now is still a strong support.
At these levels it is necessary to Make Sure Nifty finds support before you buy.
Any thoughts of short selling till Nifty50 is above 9000 can be avoided!
But, Short term short sell signals will start to appear below 9150.
If you have long positions in Nifty50, your trailing stop loss could be 9150.
Note : Nifty and Sensex normally move together. Sensex right now is looking slightly doubtful in the short term.
NiftyBank still remains positive till 21200 holds
our target from few weeks ago of 22000 still remains a possibility.
in the short term it looks tired.
look for support to come in near 21200 before buying.
Long positions in Nifty Bank can maintain a trailing stop at 21350
But, Short term short sell signals will start to appear below that.
This will again be a shortened week as markets will remain closed on Friday for Ambedkar Jayanti.
IIP and CPI numbers on Wedesday and WPI on Friday.
Options volatility is managable now. So options can be bought!
The choice to buy Futures is always there!
Sectoral Index view -
Nifty IT is breaking down. Short sell ideas can emerge here.
Nifty Energy looks like it has finished its upmove for now and a period of pause/correction should start soon!
Personal Note: The view of previous week remains.
Index cannot continue to move up all the time without pausing!
Could there be a sudden sharp correction which could open up short term short sell ideas?
Looks like there could be lot more interest in stocks outside the index.
looking at mostly short/medium trades.
In Any case this is not an area to buy for the long term!!! is it?
here is the link to our market study last week -
https://marketwalas.blogspot.in/2017/04/learning-stocks-market-outlook-for-3417.html
Nifty50 is still at a very interesting stage.
It has already rallied a lot and looks a little tired.
Of course the direction still remains up ...
only worrying thing is the speed at which it has gone up which makes it more n more risky.
Best buying areas now could be near 9100 or when Nifty finds support above 9170.
9000 for now is still a strong support.
At these levels it is necessary to Make Sure Nifty finds support before you buy.
Any thoughts of short selling till Nifty50 is above 9000 can be avoided!
But, Short term short sell signals will start to appear below 9150.
If you have long positions in Nifty50, your trailing stop loss could be 9150.
Note : Nifty and Sensex normally move together. Sensex right now is looking slightly doubtful in the short term.
NiftyBank still remains positive till 21200 holds
our target from few weeks ago of 22000 still remains a possibility.
in the short term it looks tired.
look for support to come in near 21200 before buying.
Long positions in Nifty Bank can maintain a trailing stop at 21350
But, Short term short sell signals will start to appear below that.
This will again be a shortened week as markets will remain closed on Friday for Ambedkar Jayanti.
IIP and CPI numbers on Wedesday and WPI on Friday.
Options volatility is managable now. So options can be bought!
The choice to buy Futures is always there!
Sectoral Index view -
Nifty IT is breaking down. Short sell ideas can emerge here.
Nifty Energy looks like it has finished its upmove for now and a period of pause/correction should start soon!
Personal Note: The view of previous week remains.
Index cannot continue to move up all the time without pausing!
Could there be a sudden sharp correction which could open up short term short sell ideas?
Looks like there could be lot more interest in stocks outside the index.
looking at mostly short/medium trades.
In Any case this is not an area to buy for the long term!!! is it?
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