A sloppy day for trade today. Not much movement seen in Indian stock markets all because of American off. Nifty has closed at 6300 levels still maintaining a sense of bullishness. BankNifty too moved ahead a bit from its major major support edge of 10810 levels. Falling from this level and sustaining it for a session or so shall be same as falling from a 1000 ft flat cliff. Holding this level for another one week shall signify a huge upward movement and may help Nifty cross its all time high barrier.Be watch full !! Reliance posted strong results however did not show up in its stock play today, probably macro factors weighing more than its micro parts. AsianPaints on the other hand has put up with negative ratios and for such a result sensitive stock, its definitely not a good news. Our call is to short its futures @ 490 levels with a target price of 480, with an targeted profit of 5K.
The content on this blog gives the daily fundamental and technical outlook about the Indian Financial Markets. Reader discernment is called for !!