Market Outlook by Ashwani Gujral, Technical Analyst
Above 14000, we still maintain that its not a good time to invest. Keep your account running on profit, there may not be many multibaggers from here. If you see frenzy in your stock, use it to sell.Markets head to new highs After spending about 10 sessions in a range, the Nifty broke out above 4130, to close 1.41% higher for the week. The weekly low of 4056 can now be a trailing stop for all swing trading positions. The Nifty seems to be headed to our targets of 4250 and 4440. While most large cap counters have remained ranged, the midcaps have come into their own. The mid cap index had a weekly closing at 5316, and is now headed to towards 5530. The trailing stop for the mid cap index is 5042. Meanwhile metals is where we are getting fresh sector tailwind. Our top picks include Tisco, Sail, Sesa Goa. In midcaps we are still backing Moser Baer, NDTV, Praj, Polaris and Kotak Mah Bank. Above 14000, our stance consistently remains that its not a good time to invest. So ride your moves, and plan an exit.
Keep your account running on a profit, there may not be many
multibaggers from here. If you see frenzy in your stock, use it to sell.
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