Nifty: Remain bullish; await upside momentum to pick-up
View on the Nifty / Trade ideas
- FundsIndia's recent view of a rally to 5,270 - 5,300 range has been validated by the price action
- While they remain bullish on the Nifty, they await upside momentum to pick-up before concluding that the next leg of rally to 5,600 is underway
- FundsIndia remains cautious on the banking sector. Public sector banks are weak. Any further fall could trigger a major slide. Next support for State Bank of India at Rs1,780-1,800 range
- In the individual stocks FundsIndia discusses the outlook for Balrampur Chini and Hindustan Unilever
Trading Ideas Given Last Week
- FundsIndia's recent view of a rally to 5,270 - 5,300 range has been validated by the price action
- While they remain bullish on the Nifty, they await upside momentum to pick-up before concluding that the next leg of rally to 5,600 is underway
- FundsIndia remains cautious on the banking sector. Public sector banks are weak. Any further fall could trigger a major slide. Next support for State Bank of India at Rs1,780-1,800 range
- In the individual stocks FundsIndia discusses the outlook for Balrampur Chini and Hindustan Unilever
- Buy Balrampur Chini at or below Rs65.50, stop loss Rs62, target Rs.75.
- Buy Hindustan Unilever on dips, stop loss at Rs478, target Rs540
Trading Ideas Given Last Week
|
Stock |
Entry |
Target |
Stop loss |
Current Price |
Remarks |
|
Sell NTPC |
168-170 |
160 |
173 |
171.65 |
Call Active |
|
Buy Dishman |
80 |
995 |
74 |
89.2 |
Call Active |
|
But Mcleodruss |
321 |
365 |
304 |
321.2 |
Call Active |
|
Buy Centurytex |
313 |
344 |
297 |
322.25 |
Call Active |
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Reader's Comments
Discussion
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