As mentioned in the previous post (Link below) just before the budget that at around 8550, people who are left behind will jump in and next target zone should be around 8730-8760 which came today itself.
Bang On! Today's Nifty low is 8537 & day high is 8722, as close as it can get.
Now Budget is over & Demonetization is history. Market will focus on the global cues which are positive as of now.
Final leg of upmove will start above 8750 which will 'CRAWL' towards 9000-9100, Nifty might consolidate for a while lot of stocks which are left behind will catch up in the next few weeks.
Real fun will start above 9120.
Cheers!
Bang On! Today's Nifty low is 8537 & day high is 8722, as close as it can get.
Now Budget is over & Demonetization is history. Market will focus on the global cues which are positive as of now.
Final leg of upmove will start above 8750 which will 'CRAWL' towards 9000-9100, Nifty might consolidate for a while lot of stocks which are left behind will catch up in the next few weeks.
Real fun will start above 9120.
Cheers!
Comment:
Nifty keep coming back from 8730-8760 zone. This is the profit booking zone. Next week it may come down to 8600-8620 then it can be bought again.
Comment:
Nifty & BankNifty is indicating some profit booking might happen today while CNXIT may see some short covering. Short Nifty, BankNifty and long CNX IT.
