Posted By : Kishore B.S
MARKET OUTLOOK 22-05-2014
Yet another day the SGX Nifty shows a positive open for the market. From the past few days SGX Nifty has been showing a flat to positive open, but at the end of the day Nifty either close negative or to the extent which market is opened.
The technical outlook indicates the market trading in overbought zone. Going forward, Nifty and Bank Nifty both may correct, but keeping in mind the new govt may bring good policies can cheer the market. Therefore it is wise buy on every dip rather going short.
We advised to buy PVR for investments, now PVR trading at 560 wait till 580 and book 50% profit. A profit of 10% has already be gained and hence we recommend to buy this stock near the 530 levels.
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