Sufin Weekly Review

From past 13th April markets are in mood to just ride and investors who have made the additional shorts in the position have been forced to book their losses. This rally has showed once again nothing can stop Indian Markets & Growth Story of India and not even the sentiment of the world markets and that has surprised each & every participant of the market.

Indian markets have improved technically and there could be a chance that worse is over now and October low has become the key support for the market and that would test in comming future. Nifty has Technically cross the 200 DMA levels but not the Sensex rest monthly & weekly charts have improved a lot, Volume in the Nifty Stocks have improved a lot and have cross the level of 21000 and some cases it has showed high for the last 5 – 8 years.

Political reasons are also the factors for a push in the market and now the game depends on final results that could be out very soon and this will definately surprise the markets. Time is to be Careful and start booking profits step by step and on an aggressive side you could even start booking losses and could wait the market to pull down.

Hope this Pull Down will be soon?

There are very much changes that Sensex may ride till 12500 and chances are that we might face a good profit booking level. Time is keep the eyes open and trade carefully and if there is change to hedge the positions then this could be right time to save the profits and not greed for more.

Important levels for coming week

For Nifty / NSE
Support Levels: 3327, 3228, 3168, 3069
Resistance Levels: 3486, 3546, 3645, 3705

For Sensex / BSE
Support Levels: 10830, 10526, 10336, 10032
Resistance Levels: 11324, 11514, 11818, 12008

It is always advisable to keep strict the stop loss & stop profits.

Sumit Jain
Money Grow with Sufin