ANews Office: Nifty opened on highs after closing above important level 11200 on weekly basis, it regained 11300 in first session but cannot sustain above that and soon came below it sharply but sustained to close above 11250.if it sustains 11270 then it can try to reach 11400-11470 if breaks 11200 then lower levels of 10,900 is possible in coming days.
US markets also saw gap up and rallied on back of good results from old economy stocks and in hopes of Mega stimulus package. In commodity side gold & silver saw correction from all time highs and it can continue for few more days. Investors and traders should be cautious and can add good stocks on dips also now focus should be on profit booking.Focus should be on defensive shares of IT, Pharma, FMCG and all other sectors will keep on rotating so add only sector leaders.
DISCLAIMER- Views and Levels mentioned above are my personal study and I have every right to be wrong. I am not SEBI registered Financial advisor yet and theses views are for educational purpose hence please take decisions of your hard-earned money by yourself.
Sunand Gopal Kapila, Financial advisor
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