#210 Nifty Update:India to 'Modi'fy themselves

NaMo NaMo thats what all Indians Chanting since last 24 hours. Its time to change ourselves and ‘Modi’fy ourselves in line with developed world. Some of our policies are still traditional which is hindering our growth which may be cleared on a fast track as now we have a stable government. What it means for Indian stock market to have a stable government? As my Analyst says

“The incoming of a Stable government, which after 30 years, in 1984 the last government was with a clear majority. So all the people in the country has not experience of what is means to be have single majority government. If the government manages it well, there will be difficulties in the initial year but once they clear the difficulties, We believe the growth will start to pick up. And if they will be able to fulfill it what they have mention in there manifesto,. We believe that one should be in equities and should stay into the quality stocks for a much longer period than ever before. So it is a multi-year bull run and this is the start of it.”

Technically my views are same as my Analyst, which means probability of Green wave in Nifty is about to yet start. Still Indian industry is yet to recover and when they will start performing it would still shoot up our markets further. Since 24th April we were long on nifty (6840) and are both targets 7200 and 7480 has been achieved. But as i mentioned in my last post we extend our target to 8031. Looking at candlestick pattern on daily we are not getting any clear sign while indicators still so positive that we are getting clear upside from here. Expect a volatile month end on Nifty but hold your longs.

Our recommendation: HOLD long with tgts 7600/8031 with trailing SL of 6790 on weekly closing basis

*Note:All the words used in post are correlated to market and it please take position on my recommendation after careful study and at your risk

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