Nifty has a major support at 4750-4700 and it faces major resistance at 4950. Nifty for the past few day is trading in the range of 4700-4950. On the Option side there has been good put writing at 4500 & call writing at 5000-5100 levels. So any move beyond these levels can be taken into consideration for long or short positions. Either side is a breakout trend. Yesterday i have given a buy call on RIL. Ril closed at 2393, traders can buy again at the same level with the small tgt of 2415, and if it crosses above 2420 then hold on to ur position. 2420 is a break out.
RPL looks positive. Yesterday the OI has gone up by around 20 Lacs. Buy with the minimum tgt of 190 with sl of 160.
IT Secotr looks very positive. For the last few days the Fall in out markets are supported by only IT sector. Investor should start investing in the IT sector, FMCG & pharma. IT sector looks more promissing....... BUY
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