Dear Investors,
On 19th Nifty closed at 5890 indicating that it has broken important support level of 5920. There appears to be heavy selling momentum in market,at the same time there are very few short positions created( which could have helped market to go up), and last but most important is , F&0 expiry is in this week (25th), all these things are not good for marker to recover in coming weeks.the last hope for BULLS is Nifty taking support at 5850, below which there is every chance that Nifty may tank to the levels of 5720/5680, if not sustained then the mid term reversal of trend is in sight.
According to charts Nifty is trading below 20 DMA ( days moving average)@6110 and 40 DMA @ 6040. these will act as important resistance in upward movement. Market has to close above these levels to resume the broken upward trend.Important daily levels to watch are5990/6050. One is advised to be very careful in creating positions either positional or investment buying as the range of volatility will be heavy. Investment buying is advised in staggered fashion up to the levels of 18300 below which all longs should be booked as new downward trend may get in.
Investment buying is suggested in
CAPITAL GOOD COS.
ENG. COS
FMCG
PHARMA
and BANKS after correction
Advices to create small positions at all falls in
ELECON ENG.
ACE(Action Construction and Eng.)
SPIC( Southern Petro)
L&T
LUPIN LAB
IPCA
MENGLORE CHEMICALS AND FERT.
GMR INFRA
LANCO INFRA
HIMATSINGCA SIDEC
ARVIND
INDUS IND BANK
FEDERAL BANK
CENTRAL BANK OF INDIA
ANDHRA BANK
ICICI BANK
IDFC
CHARTERD CAPITAL(CCP)
BANCO PRODUCT
BALASORE ALLOYS
ETC.
Thanks
Happy Investing
Take care to protect your capital
Dr. Vasant Bele
DISCLAIMER: I might have personal interest in stocks advised, I might go totally wrong in predicting the markets so you are advised to invest on your own perception and responsibility.
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