Nifty

#160 Nifty Update: Road to 6350

As we have been intimating you all to go long on each dip and that would have got you or your portfolio in green by now. Result earnings are falling as a god grace to bulls. Infy, hdfcbank and than today axis bank and TCS have given marvelous results. GDP and Inflation is still a concern but investors can bet on stocks as now the future is going to better than today. Technically on Nifty’s daily chart we are safely above all the moving averages which is the gud sign of upside trend. RBI has been taking step to control devaluation of Rupee. FII has been a net seller last month but do notice it was 90% in Debt segment and not equities. As our FM said we are a attractive destination for investment and we should continuously be that same. All the segment have seen beating turn by turn and only option left now is upside. Coming to technicals ,now we could see nifty resisting near to 6280. 5910 tends to be strong support on closing basis. After 6280 we may see some correction to 6040 which would than  ultimately takes u to 6350. Our strategy continues to be buy on dips with now trailing SL of 5910. Close above 6030 this month is important for Safe bull confirmation.

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