Hi,
As expected market was weak on 12 th Jan . If you look at my post i mentioned Infosys will be trigger for the IT companies but i dont expect much from the Nifty. Infosys did good but Nifty closed in red . Even the traders who have maintained the short position from the level we intaited it they would have been in profit.
But today we got support a little lower then 5180 the support level and we bounced back and closed in the green. This is good signal and market can so more strength . So go long for tomorrow and cover if any shorts are left.
I mentioned to buy IT sector on infosys if some has went for the same then he could have got 239 points rally actually (400 point rally but if some has entered the results were declared after reading the articles he could have managed to gain 239 points as there was a huge gap up as expected).
Margin of 1Lakh giving return of 23900 in just two days . I am still bullish and mantain my call on hold for IT index. Let see how much can we from the single run. This provided a huge opputunity and people would have loved the same 24% return in 2 days.
Most of the analyst are now bearish but i will again be a contrarian and will give suggestion for the long:-
1:56 PM - Nifty F&O Call: Sell with target of 5130-5050 and stop loss of 5230, says Manoj Sachdeva, market expert, on CNBC Awaaz.
1:53 PM - Nifty F&O Call: Sell if Nifty breaks 5170 with target of 5100 and stop loss of 5250, says Parsh Zhaveri of Zhaveri Investments on CNBC Awaaz.
1:50 PM - Nifty F&O Call: Sell with target of 5150-5100 and stop loss of 5250, says Hitesh Seth of Prabhudas Lilladher on CNBC Awaaz.
1:47 PM - Nifty F&O Call: Buy with target of 5240-5250 and stop loss of 5150, says Mitesh Thacker, technical analyst, on CNBC Awaaz.
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