It seems up trend is maturing, as Weekly Monthly Tech Indicator moving in overbought zone. But Liquidity and Left out feeling everywhere plays great roll in sustaining price. So till time liquidity is there and people don’t find any other better & attractive option for investment market will sustain and move higher. Looking forward to second week of June, we believe it will be range bound as same was said earlier (rotating near 4500 Nifty). On Higher side nifty can touch 4800 mark which is 61% Retrenchment level for High to Recent Low. Long trader should exit if Nifty close below 4450 with volume on any given day and should not enter fresh long if it stay below there for two days. Enterprising Short Seller (Bear Player) can short @ 4650, 4700 and 4800 with SL, Don’t build major short unless volume, A/D and News favors you.
Value Investor can look forward to buy some undervalued Mid & Small Cap Stock, with holding period over 3 years, One such stock comes to my mind is Kothari Products Ltd, it can double from current price in 6 to 9 months time.
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