Hello guys, last week was very very volatile and series of negative news inflows continued throughout the week.
I would like to start my view on the market with "DO NOT PANIC". I know many of the veiwers would be stuck on the long side and as always nifty took an opposite path. Well no one can time the market and hence would suggest everyone to keep their calm in the market and have faith.
Well market found good support around 4690 and bounced from those levels... Keep watch on 4530 levels in nifty on a closing basis.. If nifty goes below this levels with volumes, one can see a big correction in the market.
However, I see an upside in the market from current levels up to 4830 - 4870 - 4950. Please book some longs at these levels... Close above 4940 levels with help nifty cross 5000+.
Nifty levels to watch: 4530
Sensex levels to watch: 15250
Beta stock like tata motors, tata steel, hindalco, rel cap, century textiles, jindal steel will bounce strongly from these levels... One suggestion is don't wait for big targets.. continue booking small profits at every rise.
Special thanks to namit for keeping all of us updated with his valuable information..
Note: Please consult your adviser before taking any views on the calls posted on this blog. Namit/Myself are not liable for any losses or gains incurred from the calls
All the best! Happy trading...
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