Market View For Week 10-14 June
Expansion
(Rally) and contraction (Correction) are normal cycles in healthy
market. We have seen rally from 6640 to new high of Friday at 7583. The
correction has come to end quicker than our expectations. Our last
resistance of 7350 is broken suggesting that markets are in a mood to
move higher. Closing above all time high has reset our near targets of
Nifty.
View: Markets are in mood to move higher. Everyone is buying. Next target is 7800.
Short Term (Few days to a Week) : Market mood is expected to be 'Firing" in very sort term. The next resistance is at 7800. Support is in the range of 7430-7390.
Medium Term (Few weeks to a month): Markets
can not run one way. There has to be corrections. In medium term we
should expect to correct. Charts will give us the indications, which we
shall inform through this column.
Long Term (Few months to Year): Bullish view is maintained. We may experience unprecedented investment opportunities in year/s to come.
Trading View: Buying in Nifty Future is advised on declines near support
View on Sectorial Indices:
Markets
are bullish. All indices are firing. Pharma, FMCG and IT are offering
safer buying opportunities. as they are trading near support. At the
same time giving indication of making an upward move.
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Recommendations of the week:
AUROPHARMA(Buy) - Buy Auropharma near Cmp of 650 for target of 680. Maintain stop loss at 680
HEXAWARE(Buy) - Buy at CMP of 153 for target of 162. Maintain stop loss at 148
ICICI Bank(Buy) - Buy near 1486 for target of 1550. Maintain Stop loss at 1460
For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com
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