|Market out look dated 13th March
Nifty Above 10333 relief rally continue towards
After test 200 DMA and over sold market, and positive ness in global market, Nifty finally pull back rally above 10333 and added around 190 points which was almost last two years decent rally shown. Short term trend is up and looks more up side in coming days due to over sold market and short covering. However, higher level again selling opportunity cannot be ruled out. Buy on dips and sell on rallies is a best opportunity in market.
Nifty : Yesterday break out in trading range and almost gained more than 190 points. Now time being we may consider support around 10350-10360 and upper side open towards 10450, crossover and sustained above gate of open towards 10534 and 10654 in short term. So take advantage of this rally and try to book profit at higher level.
Bank Nifty : Smart pull back rally from the lower of 24000 and finally made a high around 214800. As long as Bank Nifty holding above 24500, up side open towards 24800 25000 or even 25200 possible. Higher level be cautious. Decent support 24000-24200 range, break down these level over all selling in market.
Positive bias in following stocks.
Reliance Ind, HDFC, HDFC Bank, LT Voltas, Tata Motor, Century Texrtile, Maruti, HCL Tech and many more.
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