“Currently Nifty is trading at 24,290, my stop loss for this would be 24,700 and I am expecting downside levels of 23,500 to 23,000,” says Aditya Arora, Adlytick. Second straight …
“So, the early trends are very encouraging. And if we had to compare Nifty and Bank Nifty, then Bank Nifty looks really good and is in a good position to …
“If one had to take bullish bias, then they should only take above 24,500. Otherwise, this market could be sell on rally in that kind of a pattern. And if …
“I think that could be a good time to take chips off the table, book profit and wait for the lower price to get in the market. So, that is …
“We must watch out if this level holds out, then we can see a short-term bounce in the market, but more worrying is the weakness in smallcap and midcap space,” …
“So, from today onwards 26,500 is an important mark which was a high for Friday. Post that gap up, we have filled that gap and we are still continuing with …
“One day we see a gap up and another day we see a gap down. So, market is directionless and choppy. So, in such kind of a market, fmcg space …
“And we are now standing at 50-day moving average, which comes at 23,850 and we made the low around those levels 23,900 on Nifty futures, so that is the important …
“So, we will wait for a breakout or breakdown for market to decide in which direction it could trend for more 1% to 3%, but right now if we have …
“Somewhere down the line correction could come and it could take prices lower than the buying price, so that is the pocket of euphoria in the medium term,” says Aditya …