Yesterday Nifty Future remained within the previos day's range, but closed marginally higher @4536.25. While EOD chart formation (candlesticks - as there is buying at lower levels for the day), does give an impression that Nifty Future is poised togo up. This scenario is possible only if market sustains above 4655. Hence, all long positions should be taken with this as a reference point. For long positions, 4510 remains the stop loss.
Reliance is facing hurdle at 2320., hence 2325 should be considered as stop loss for short position and long postion can be taken above 2325, with 2300 as stop loss.
Reliance is facing hurdle at 2320., hence 2325 should be considered as stop loss for short position and long postion can be taken above 2325, with 2300 as stop loss.
Infosys will have 1700 as stop loss for short postions and will weaken below 1640.
Happy Trading,
Ketan Asher.
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