Hope all of you had a rocking week.
Coming to the current week which at last is not an truncated week,Market has posted phenomenal 6 weeks Gains in arow which i have never seen in my trading carer. So What’s NEXT !!
India VIX is at 50.12 so be cautious on longs you are holding as Higher VIX there is a good propabality of correction in near term.
Technically Speaking for Nifty Weekly Chart Click on Below Link.
Due to call Writing at 3500 and 3600 Levels we will see an Stiff resistance at 3520 Levels and support is at 3312 3250 and 3150 Levels.So what i would suggest is to buy at declines not to jump in bandwagon now and repent later.
Reliance as posted previously Reliance faced a resistance around 1825-1835 and it fell and closed at 1716 Now support is at 1685 and 1655 and 1607 So be a buyer on dips and short at 1811 Levels.
Hindalco Taken support around 55 Keep a sl of 52 and take long for a target of 59 and 63
ROLTA sell around 98 sl 110 tgt 80-75
Ganesh Housing Stock closed above 20 DMA CAn see a tgt of 65 and 72 SL 49
Core Project keep a Sl of 85 and intiate longs for a tgt of rs 150 in 1-2 months frame.
Unitech above 56.25 for a tgt of 60 63 and 65 Support at 45 and 38 Buy on declines or if crossed and sustained above 56