Nifty consolidation continues.......
Nifty trading in a narrow range of 200 points. Option traders please wait for the breakout on either side before buying call or put. Futures traders can take long at CMP keeping a strict stop loss at 4990 for a possible target of 5100-5150.
Maruti
Today Maruti was one of top losers among nifty stocks. It has taken support at the ascending trend line. But closing below Rs.1173will create selling pressure. Indicators like MACD, Stochastics are showing sell signal and tomorrow if it manages to reach Rs.1170 we will get sell signal from Parabolic SAR.Based on above observation sell Maruti below Rs.1173 for a short term target of Rs.1155-1120 stoplossclosing above Rs.1190
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