Nifty: Supports at 4935/4875/4825/4790/4775
Resistance at 4955/5015/5020/5060/5100
View: Nifty faces stiff resistance at 5200-5300 zone. On breaching & sustaining above this level will decide the next upmove trend of market. On downside 4500 is a solid support. If you go through our past few days Nifty views, we have been just perfect in that.Whole World was shouting about 4200-3600 levels and we were telling to just go with the wave, no need to go with weird news and see we are now at almost 5000, and now all TV channels are saying 5200-5300 level is next target. FII's buying is a good sign. They are net buyers in past few trading sessions. Just one cause of worry is high Inflation. Now to curb it lets see what steps are taken, mainly hike in interest rates.... is most probable way. This time dont forget to hedge youeself. Buy 4250 put as a insurance as hike in interest rates may give some negative view to the market. Market may open flat/negative after same performance by Asian Market.
Buy:
GAIL Only Above 446 Tgt 451-455+ Sl 436
ITC Only Above 208 Tgt 212-214+ Sl 204.5
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