Market outlook 12-03-2014

Posted By : Kishore B.S

Market outlook 12-03-2014

Two days of consolidation, Nifty is giving a sign of some correction. As we recommended to create a hedging position is working well. The Nifty to all time high was supported by Banking and financial, capital goods, now both sectors started correcting.

The Bank Nifty on daily chart created an evening star pattern which is bearish therefore going forward we can see some correction in Bank Nifty. So sell Bank Nifty 12150. Target on the down side is 11800, Stop loss is 12300.

Stocks to watch from IT sector and Pharma Sector. TCS and Tech Mahindra and Sun Pharma will be good investment bets at current market price keeping a year down the line.

 

Cheers  !!

Team SMI

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