Alert :
Proverb : A weak mind is like a microscope, which magnifies trifling things, but cannot receive great ones.
Wait for little clarity in direction before taking large positions.
Nifty major support : 4824 / 4740 Resistance : 5000 / 5165
The F&O expiry,RBI Policy and uncertainty all around will only add to the volatility.Even as a weak market overreacts to trifling things, don’t forget there is a big picture which we could confidently say remains intact for India. However, being brave is not among the bests strategies now. Wait for little clarity in direction before taking large positions.The events to keep an eye on for the coming days include today’s Fed announcement, the RBI policy meeting on Friday and of course the spate of earnings.
The Hangseng has major support at 19500 so more 2.5 to 3% downside.Similarly the investors may hold their non-leverage positions upto 4824 / 4740 levels for Nifty and should concentrate on Public sector stocks or Disinvestment related stocks as investors may grab this opportunity on attractive levels to enter. Heavyweights like HDFC, ITC, Rcom, Tatapower, SBI, LIC housing, M&M or steel stocks also one should re-invest.
Disclaimer : The views and recommendations mentioned on this blog are only opinions of our research team.The clients/investors/traders should decide their own strategy accordingly.Sole discretion is recommended before investing/trading.
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