ANews Office: Nifty opened on highs in first Hour and then started to fell gradually and in second half fell sharply 100 points to end below 11100.Majorly it was broad based profit booking among all sectors. If nifty maintain above 11150 then markets can try to reach 11300 and if it breaks 11000 then lower levels of 10,800 is possible in coming .
US markets also saw gap up and rallied on back of good results from Technology companies and in hopes of Mega stimulus package. In commodity side gold & silver is touching new highs but showing profit booking before resuming next leg of journey upside. Investors and traders should be very cautious if it breaks 11,000 then could be negative. Now focus should be on profit booking and wait for right moment to add stocks next few weeks will be volatile and should be very cautiously handled. Focus should be on defensive shares of Pharma, IT and gold related and all other sectors should be cautious approach.
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