LIFE TIME HIGHS AGAIN ACCOMPANIED BY CHOPPY MOVEMENT; NIFTY, BANK NIFTY MAY
BE READY FOR A PERIOD OF CONSOLIDATION; NIFTY SUPPORT COMES AROUND 7950 WITH
POSSIBLE RESISTANCE AT 8200; SOFTWARE (IT) REMAINS A BUY ON DIP AND
CONSOLIDATION.
MARKETS GO THROUGH CHOPPY MOVEMENT WITH INTRA DAY CORRECTIONS. SHORT TERM
TRADERS SHOULD WAIT PATIENTLY FOR NEW SIGNALS TO BUY AFRESH; THE SIGNALS COULD
BE A CONSOLIDATION OR A MINOR DIP.
- Trend is up in Bank Nifty. Prices have seen a rally of almost 700 points from 15500 to 16200 in last 6 trading days. A small consolidation or correction is possible. Traders should take partial profits and wait for another buying opportunity.
- Trend is up in CNX IT. Prices saw a big up move today and closed above 11000. We have been talking about a possible expansion in this sector. That expansion came today. Now, it may possible that prices again start choppiness. Look for a buying opportunity in Top IT Stocks such as HCL TECH, INFY, TCS, TECH M, WIPRO and HEXAWARE.
- Short Term as well as Intermediate Trend is now up in CEMENT Sector. Prices have seen a breakout from its resistance and begin an up move. We may get a buying opportunity in Cement Stocks such as ACC, AMBUJACEM, INDIACEM and ULTRATECHCEM.
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