Nifty50 is at a very interesting stage. It has already rallied a lot, but interestingly it can still go up some more!
our target from 2 weeks ago of 9250 is still in sight .. even 9500 still remains a possibility.
But ... as we keep going up without pausing, it gets more risky. So keep trading volume low for a while.
Best buying areas now could be near 9100 or above 9170. 9000 for now is still a strong support.
Any thoughts of short selling till Nifty50 is above 9000 does not seem a bright idea!
If you have long positions in Nifty50, your trailing stop loss could be 9100.
Note : Nifty and Sensex normally move together. Sensex right now is looking slightly doubtful in the short term. So ...
NiftyBank still remains positive till 21200 holds
our target from 2 weeks ago of 22000 still remains a possibility.
short term signal though is not very clear.
below 21350, Nifty Bank can slide down to support.
above 21600 confirms upside trading momentum.
Long positions in Nifty Bank can maintain a trailing stop at 21350
This will be a shortened week as markets will remain closed on Tuesday for Ram Navami No major event risk for our markets next week.
Options volatility is managable now. So options can be bought!
The choice to buy Futures is always there!
Note: Index cannot continue to move up without pausing all the time! There could be lot more interest in stocks outside the index.
link to our previous market outlook -
https://marketwalas.blogspot.in/2017/03/learning-stocks-market-outlook-for.html
our target from 2 weeks ago of 9250 is still in sight .. even 9500 still remains a possibility.
But ... as we keep going up without pausing, it gets more risky. So keep trading volume low for a while.
Best buying areas now could be near 9100 or above 9170. 9000 for now is still a strong support.
Any thoughts of short selling till Nifty50 is above 9000 does not seem a bright idea!
If you have long positions in Nifty50, your trailing stop loss could be 9100.
Note : Nifty and Sensex normally move together. Sensex right now is looking slightly doubtful in the short term. So ...
NiftyBank still remains positive till 21200 holds
our target from 2 weeks ago of 22000 still remains a possibility.
short term signal though is not very clear.
below 21350, Nifty Bank can slide down to support.
above 21600 confirms upside trading momentum.
Long positions in Nifty Bank can maintain a trailing stop at 21350
This will be a shortened week as markets will remain closed on Tuesday for Ram Navami No major event risk for our markets next week.
Options volatility is managable now. So options can be bought!
The choice to buy Futures is always there!
Note: Index cannot continue to move up without pausing all the time! There could be lot more interest in stocks outside the index.
link to our previous market outlook -
https://marketwalas.blogspot.in/2017/03/learning-stocks-market-outlook-for.html
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