Flashback
Readers would have had a mixed day yesterday with ABAN triggering stop loss while nifty long moved like a rocket on the upside.
We are ever so close to my original target of 5270. Readers holding nifty bees should book another 25% at this juncture.
Soon the same analysts and TV stars, who were asking to go short and book holdings after budget day, would be saying "It is a bull market, Buy everything in sight".
Well, none of that nonsense here at jerrytechnicals. Only rock solid analysis, supported by charts.
Now coming to today's levels
Bull Level
Buy nifty future at 5035 with stoploss at 4992 for targets 5080, 5115, 5145, 5170
Bear Level
Nifty future breaking 4992 short at retracement to 5020 with stoploss at 5050 for targets 4960, 4930, 4920.
Sultan of steel - TataSteel
Tata steel appears to have taken suuport at key fibonacci support.
For today's trading, buy tatasteel at 508 with stop loss at 502 for targets 516, 525, 532.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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