Dear All,
On account of GTL Infra's restructuring Banks got hit by Friday and Nifty closed at 5059. As it was by the news flow the fall happened (as the impact will be only to specific banks), we could consider the second support level of 4950 in Nifty. In case of Nifty is not able to bounce back or not able to hold on to this level for the day it is better to exit all longs. Holding above the 4950 levels can give a pull back in Nifty. If the pull back can able to sustain above 5030 there wont be any danger in holding the long positions.
As long as Nifty Spot Holds above 5030, maintain longs. Leverage Positions can be reduced on a close below 5100 and all longs should be closed below 5030 on spot Nifty. Index is being well managed with sectoral shifts between Banks and Auto. Metals are in sidelines and no big trends are seen in the sector. With managed index stock specific actions can be seen with shallow movements. Shake outs are quite possible at this juncture. Money Flow is still positive and there is no immediate negative seen as of now.
As long as Nifty Spot Holds above 5030, maintain longs. Leverage Positions can be reduced on a close below 5100 and all longs should be closed below 5030 on spot Nifty. Index is being well managed with sectoral shifts between Banks and Auto. Metals are in sidelines and no big trends are seen in the sector. With managed index stock specific actions can be seen with shallow movements. Shake outs are quite possible at this juncture. Money Flow is still positive and there is no immediate negative seen as of now.
Source:- One of My Research Analysist
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Thanks & Regards
Rohit Saxena
Phone No: 09899365905
Mail Id: simmi9sep@gmail.com
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