WWW.MARKETDHOOM.IN The September month rally was in-line with expectation, as I recommended to buy on dips around 5200 - 5100 levels and give and Handsome rally of 1000+ points and made high of 6150+ levels in Sept month. USDINR also helps Nifty for the rally which corrected from 69 levels to 62 levels.(click here to view previous Market Commentary) Now for the month of October, I feel that we can see some range-bound trading for the Nifty 6050 – 6150 in the higher side and in the lower side we can see correction upto 5500 – 5400 levels. The bias would be on negative side for the Nifty, one can short at higher levels with stoploss of above 6150 on closing basis. The further rally would come only if Nifty manage to close above 6150 level. Overall the medium to long term view remain bullish, but in the short term (for October Month) can see some correction. Buying in lower levels (around 5400) would be the base for the Nifty and would be the Right Time to Invest in Good Value Stocks for Medium to Long term view in market that definitely will give a Handsome return. For more .... VISIT @ WWW.MARKETDHOOM.IN
Posted on: Sat, 05 Oct 2013 08:33:52 +0000
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