Hi ..
As expected market opened with a gap up with good gains.After that market continued to move in the narrow range. The market breadth was very good today.
Today 5280 was the level which market faced resistance right from the morning . It was breached for some time but could not sustain it.
As the market has run up quite a lot i would suggest book full profit or at least partial profit on your longs . We can get some small correction which can be helpful for taking entry again into the market. The overall mood of the market seems bullish but keep in mind don't get carried away with the bullishness.
I am bullish but with CAUTION. Remember the word CAUTION.
Most of the analyst are also bullish:-
2:05 PM - In an F&O call, buy Nifty January futures with a target of 5400 and stop loss of 5150, says Rakesh Bansal, technical analyst, on CNBC Awaaz.
2:01 PM - In an F&O call, buy Nifty January futures with a target of 5380 and stop loss of 5210, says JK Doshi, technical analyst, on CNBC Awaaz.
1:55 PM - In an F&O call, buy Nifty January futures with a target of 5350-5400 and stop loss of 5220, says Husseini Wadharia, technical analyst, on CNBC Awaaz.
1:50 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5160, says Hormuz Maloo, technical analyst, on CNBC Awaaz
1:45 PM - In an F&O call, sell Nifty January futures with a target of 5250 and stop loss of 5310, says Hemen Kapadia, technical analyst, on CNBC Awaaz.
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