In last week Nifty was traded in our channel. but it was broke the channel on Friday. As it broke 5445 which we told a very crucial support Nifty plunge down around 50 point suddenly.
So now its time to be cautious in the market. Go long only if nifty close above 5510 till that sell on rise and it is good to sit with cash for Investors.
Crucial levels for next week is 5336 - 5545.
Nifty may saw level of 5210 in1-2 months if it will continuously trade below 5500 level.
It is good buying opportunity for the investors when fundamental strong company will get at bargain Price.
Levels :-- Trigger level 5451 R1/R2 5511-5600 S1/S2 5354-5287
Short term Idea:--
Buy Fintech 1377 Tgt 1420-1450 Sl 1343
Buy Powergrid 104 Tgt 107-110 Sl 102
Buy Grasim 2018 Tgt 2090-2150 Sl 1970
Last week performance
Buy Hcl infosys 117 Tgt 122-127 Sl 111 ( Both target hit)
Buy Patni 532 Tgt 550-568 Sl 510 ( 1st tgt it )
Buy ACC 872 Tgt 886-900 Sl 860 (SL hit)
Please share your comments on what you think of market observations, market and trading in general
Regards
Devang
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