Lighten Your Long Positions and Buy at Dips
Last Trading Session: Nifty opened flat with negative bias and made low at 8154, exactly at our first support of 8150. IN second half of trading session, after Europe opening, market bounce back and closed at 2016 closing high@8218.
Today: Indian Stock Market would open gap up positive around strong resistance zone of 8250 spot level. If nifty would closed above 8250 spot level then nifty would see another 100-200 points on upside in a days to come. At this point we would recommend lightening your long positions in large cap stocks as valuations are looking quite expensive. And if nifty closes above 8250 then it would be better to long via nifty calls rather to take big position in nifty future.
Click Here to Check the Trend Of Major Indices and Stocks
NSE Nifty: (8218) The support for the Nifty is 8150-8100 and the resistance to the up move is at 8350-8250 levels.
NSE BankNifty: (17567) The support for BankNifty is at 17300-17195-17100-17000 and the resistance to the up move is at 18000-17652-17827 levels.
BSE Sensex: (26843) The support for the Sensex is at 26500-26300 and the resistance to the up move is at 27200-27000 levels.
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