"Indices are in unchartered territory and making new highs daily. At present bulls are in perfect control of the situation, the corrections are intraday and shortlived, but this is not the time to go long on every stock or sector. Though markets are making new highs, selective stocks and sectors are helping it. It is not a secular bull run, so one should not throw caution to the winds and jump in haste.
Investment strategy should be stock specific, where as Nifty traders shall have opportunity on either side, as the volatility shall increase from now on with on set of earnings season, Infosys results announcement being scheduled for tomorrow; Since markets have closed firmly above 4400 now, going long 4400 straddle for intraday and intra week trading can be the best option in the current situation.
The day's range for Nifty shall be 4320 (Support) and 4444 (Resistance); Sensex shall be 14650 (Support) and 15150 (Resistance)
No comments:
Post a Comment