Nifty is in Uptrend. Charts structurally Still Positive after last couple of day's fall. However on account of Budget, a fall or panic Dip upto 7450-7400 could not be ruled out.
Out of Nifty heavyweights,
Reliance has already corrected 150 points or 13-15% from its recent high of 1145
ICICI is also oversold.
ITC and Infosys are not looking bad atleast, Infact Infosys is looking good.
HDFC Bank and HDFC are market performers and could not fall more than 5%
In Such a scenario worst Nifty can fall is 3-4% from current levels of 7623
THE TRADING STRATEGY SHOULD BE TO CREATE LONGS AT 7450 IN SPOT WITH A SL of 7290 for TARGETS of 7900 by Mid August
Please visit our website www.niftymarketcalls.com or give missed call on 7666862233
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