The Markets have had a ferocious rally since the dawn of the New Year and have once again shown that the Bourses indeed have a mind of their own. Most Pundits have always maintained that the Rally would always perk up the large caps first but recent stock movements have shown us how wrong they were. The Market picked on the beaten down high Beta plays and sent them zooming.
- Upside resistances at 15.65 followed by 16.55 and then 17.2. Hold for a medium term target of 19.4. Long term conservative target (12 months) is 23 (though I daresay it will be achieved much earlier)
- Since the S&P downgrade of EU economies yesterday could sully the sentiment for a while, there could be sharp downsides which could be used by savvy Investors to enter the Scrip. Downside supports at 13.3 followed by 12.6 and then 11.7.
EARLIER DETAILED CALL SEE HERE
what do u feel where would nifty go from here ?
ReplyDeleteIf sentiment remains OK could easily go upto 5050 levels in the short term but I see the broader Market outperforming for some more time.
ReplyDelete