Hi .
As expected market opened gap up . Retraced a bit but again closed firm but could not cross the resistance. Everything seems to +ve apart from not crossing the resistance. The inflation figures are quite high but market digest it pretty well;
In the earlier part of the day there was some profit booking in the IT companies so the IT index was down but later it covered and closed in the green. So the people holding it as per my last post is still enjoying the whooping gains. Today banks was in pressure . Bank Index closed in a bit of red.
If we get good global cues we might open in mild green but i expect profit booking tomorrow . So i will suggest all who are sitting in profit please book them.
Please be in the sideline as we can see the nifty can move in either way so be careful.
There are mixed feeling in the experts:-
1:57 PM - In an F&O call, buy Nifty January futures with a target of 5310 and stop loss of 5220, says Hemen Kapadia, technical analyst, on CNBC Awaaz.
1:50 PM - In an F&O call, buy Nifty January futures with a target of 5325 and stop loss of 5180, says Neera Jain, technical analyst, on CNBC Awaaz.
1:46 PM - In an F&O call, sell Nifty January futures with a target of 5320 and stop loss of 5210, says JK Doshi, technical analyst, on CNBC Awaaz.
1:41 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5200, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz.
1:36 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5150, says Nishant Jain, technical analyst, on CNBC Awaaz.
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