morning thoughts...
As said and expected the markets attempted 28000 on bank nifty and 11450 on nifty and now it becomes a jittery zones for the markets where a slight reaction and profit booking is not ruled out
However we would like to concentrate on stock specific and high rsi stocks which are likely to give quick returns in volatility
Last week we had mentioned about sbi , axis , icici , dabur , itc and igl all have given the desired returns and in turns huge gains in options and futures
We yet again would concentrate on few stocks and sectors like nbfcs , cement , metals which are looking good on charts
Commodities would trade very subdued and range bound in base metals , bullions and energy
Jindal steel - crucial resistance at 209 , above it can see 220 quickly pertaining to index
As said and expected the markets attempted 28000 on bank nifty and 11450 on nifty and now it becomes a jittery zones for the markets where a slight reaction and profit booking is not ruled out
However we would like to concentrate on stock specific and high rsi stocks which are likely to give quick returns in volatility
Last week we had mentioned about sbi , axis , icici , dabur , itc and igl all have given the desired returns and in turns huge gains in options and futures
We yet again would concentrate on few stocks and sectors like nbfcs , cement , metals which are looking good on charts
Commodities would trade very subdued and range bound in base metals , bullions and energy
Jindal steel - crucial resistance at 209 , above it can see 220 quickly pertaining to index
Ambuja cement - has witnessed good consolidation at 230 zones and could witness a small breakout above 235 zones
Lic - after making triple bottom at 480 zones and consolidation at 520 zones has crucial set up at 565 , above which can see a quick 15-20 rs pertaining to index
Adani ports - multiple lows and false breakout like igl mentioned last week , may trap on higher side for a slide of 20-25 rs
Last week mentioned igl trap at 320 cracks and trades below 300 now
