Hi,
Today as expected we got some profit booking and correction. Yesterday i went for contra call, so call on going short worked for those traders went for that. For those traders who think market is still bullish even they would have benefitted buying Nifty at lower level after booking profit at higher levels. As i gave the call to book profit earlier only. Nifty continues to be in narrow range on daily basis. This is because of the reason we are the very crucial juncture. So bears and bulls are applying there powers. Whenever some ones wins and breaks a level we get some big moves.
Most of the market global cues were also -ve . Tomorrow we can expect a choppy session. As per the closing i will say that closing is below the res 5269. That is bad . Tomorrow global cues will be important for determining the direction of the market .Dow and Asian market will determine the direction. So dont be in a hurry to create the position.
This is the time to look for buzzing midcap that can good returns in small period of time. As most of the time broader market is doing good.
We can see good amount of pressure on the IT companies because of dollar weaking and profit booking.
As per market experts they market is still bullish :-
2:00 PM - In an F&O call, buy Nifty January futures with a target of 5290 and stop loss of 5180, says Neera Jain, technical analyst, on CNBC Awaaz.
1:56 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5170, says Nishant Jain, technical analyst, on CNBC Awaaz.
1:51 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5225, says Salil Sharma, technical analyst, on CNBC Awaaz.
1:45 PM - In an F&O call, sell Nifty January futures with a target of 5210-5130 and stop loss of 5305, says Manoj Sachdeva, technical analyst, on CNBC Awaaz.
1:41 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5225, says Salil Sharma, technical analyst, on CNBC Awaaz.
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