Market View for week 26-30 May:
What a welcome to Mr Modi. Markets (Nifty) has
rallied 500 points in single day. However closed near its low on 16
May, indicating that the news was already discounted. 17th onwards
markets remained range-bound till yesterday, showing some choppiness.
This range was broken on upside on last trading day on Friday(today), 23rd May, indicating that there is more 'Steam'
For the week to come, we have bullish view on Nifty. Nifty is heading to re-test
the all time high at 7563. Currently Nifty has support at 7200.
Resistance at 7560. If 7560 is broken on upside, markets may test 7800.
We have been consistently saying that we are in bull run. We maintain our view. In medium term markets may rally to new highs, creating unseen investment opportunities for investors. Your job is to invest, maintaining good diversification and prudent money management.
View on Sectorial Indices:
We have bullish view on all the sectors except IT, Pharma and FMCG for coming week
A
word of caution of traders- markets are trading at all time high. The
up rally has been one way and extended. One should trade only on long
side, but with a strict stoploss in place.
To receive this Newsletter by email drop us a mail on bonvistaplanners@gmail.com
Recommendations of the week:
GRASIM(Buy) - Buy GRASIM at current level of 3001 for target of 3080. Maintain stoploss at 2960
HEROMOTOCO(Buy) - Buy at CMP of 2349 for target of 2425. Maintain stoploss at 2305
LICHSGFIN(Buy) - Buy at CMP of 329.15 for target of 340. Maintain Stoploss at 321
For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com
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