Nifty resumed its weekly Uptrend after closing marginally in greem.This week will see more volatile moves as Budget is on 6 and railway budget will be presented on 3rd.So i can make 2 scenarios
1. Nifty fulfills it’s H&S tgt of 4510 and marches ahead.I have no inkling what will happen once 4510 is crossed.We have to revisit what the Indicators and oscillators are showing at that point of time.FII who were pulling out the money have now are showing an uptick on last friday.
2. If nifty breaks and closes below 4200 we are down to 4000 odd levels. Global markets will also play a good role.
Stock Specific Trading Ideas
Infosys a move above 1849 levels can propel it to 1900 in the coming week keep 1% as ur Sl fr intraday
Larsen is showing good strength can see some 1650-1675 levels sl 1580
Axis Bank Stock is showing some real strength and a highest weekly closing and hit a 52 week high last friday.Momentum can drive it to 833 848 875 levels support is at 791 and 764
Cadilla Healtcare Good move with vols on Weekly Chart chart can be bought on dips for a tgt of 414 434 sl 360
Reliance is again subdued on daily charts 2068 and a weekly closing above 2105 will give strength to stock
ICICI only above 780 will give strength
I would not be able to update chat box on Monday as i am out of Town Will be back on Tuesday