Bonvista Financial Planners

Market View for week 23-27 Dec:

Markets are trapped in the expectations and the reality. Nifty is developing s trading range. The trading range is high of 6330 and low of 5970.

The lower support of 5150-5130 is still intact. As we had said the last week, the markets have bounced back from this level. We had given the upper range at 6230, which is decisively crossed by Nifty on Friday closing. Next resistance is at 6330.

We can expect a choppy, range bound market throughout the coming week. F&O expiry on Thursday will add to the choppiness. It would be better to avoid trading in these kind market conditions. 

Recommendations of the week:

TCS: 
Technical Chart of TCS is suggesting that it is going up. Buy TCS near CMP of 2120 for target of 2145 in next 3-4 trading sessions. Maintain stoploss at 2068. Trade this stock for profit potential of 1.2% during the week to come.

UBL (United Breweries Limited): 
UBL has not participated in recent rallies. When market rallied on Friday, UBL has fallen by 2%. One can expect further pressure in UBL. Short Sell UBL near CMP of 768.45. Keep Stoploss at 802. Target would be 720. Trade this stock for profit potential of 4.5% in next 3-4 trading sessions.  

GMR Infra: 
GMR Infra is looking bullish on charts. A big candle on charts suggests that it is ready to move higher. Buy GMR near current price of 23 for target of 23.70. Maintain stoploss at 22.50. Trade this stock for profit potential of 3% in coming week.

For any clarifications on these recommendations , you may mail us on support@bonvista.in