Seems like I’m the only one with bearish bias on Nifty, all the indications (including Options Open Interest) are towards a nice ride to the top. Lets enjoy while it lasts but, I’m not participating.
Quick update on some of the previous Stock Specific ideas --
1. Cipla – Hit a Home Run with an excellent Quartely Results, first target achieved but, expect an run up till 420-440 levels with the kind of momentum seen in the scrip.
2. CEAT – Turned out to be an DUD with poor results, Hit the SL. its still within the rising trendline support, all is not lost. But, we are OUT
Below is the Nifty Hourly Chart with resistance zone marked, if reversal has to happen but, that will be post Diwali for sure. Comments are always welcome …
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