Indian markets performed well during this week, and both indices (Nifty & Sensex) was up 0.3% and 0.2% respectively. In coming trading sessions Nifty can bounce back to 5,150-5200 levels and 5,320 may act as major resistance in future.
While commenting on Nifty Outlook for Monday it has strong resistance at 5,145-5,180. Any fresh buying position should be initiated above 5,095 levels for targeting 5118-5130. On the downside Nifty may find support around 5040-5000 levels. Traders and investors can start buying in small quantities in fundamentally strong companies which are at attractive valuations.
While commenting on Nifty Outlook for Monday it has strong resistance at 5,145-5,180. Any fresh buying position should be initiated above 5,095 levels for targeting 5118-5130. On the downside Nifty may find support around 5040-5000 levels. Traders and investors can start buying in small quantities in fundamentally strong companies which are at attractive valuations.
I've bought NIFTY 29 SEP 4900 PUT OPTION on saturday before RBI News. (@Rs.45.05)
What should I do ??
Dear Manish, well I recommend you to hold your position for target of 56 with strict sl of rs 40.