The daily trend of nifty remains in Up trend till the time the level of 5600 is protected. Moreover we have seen the golden crossover getting executed with 50 DMA crossing above 200 DMA which is a bullish signal.
We see Nifty heading for 5900 levels if the level of 5924 is protected in the market. Thus make use of the bullish trend and gallop with the bulls and make money with an easy strategy in the market by using the hot stock of the day. However a word of caution is that now we are trading at 18 P/E and thus one need to be on the lookout for first signal for break in the market which can be considered as 5624 level and fresh up move will commence in market above 5800 which can target 5950 level and ultimate target of this up move will be 6300 level.
Support and Resistances for the Day
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Strong future shares at National stock exchange
Pantaloon, MC Dowell, KTK Bank, NCC, HDIL, Orient Bank, LITL, Adani Power, Max & On Mobile.
Weak future stocks at NSE
MTNL, Ruchi Soya, Jet Airways, BF Utilities, Hexaware, Cairn, TCS, Opto Circuit, Videocon & Divis Lab.
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