As anticipated, Nifty Future did correct yesterday. I expect that if yesterday's low is broken, Nifty Future could go down upto 4350, where it will find good support. In yesterday's session when whole market was in correction mode, Infosys was quite strong , indicating that there must be some good news that market does not know.
Nifty Future : It would be safe to buy Nifty@ about 4350 (with stop loss of 4319) for a pull back, which can go upto 4510-4530. In the even that this target (of 4350) is not reached, in the 1st half an hour you can buy Nifty Future with a strict stop loss just below days open. First target in this case too would remain 4510-4530.
RELIANCE FUTURE: Buying in Reliance should be considered only above 2230, with stop loss of 221o and target of 2315.
INFOSYS TECH: As stated earlier, yesterday it was the strongest amongst the front line stocks. Long positions in Infosys should be protected with a stop loss of 1720.
Please do not trade without stop loss.
Happy Trading,
Ketan Asher.
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