Posted By : Kishore B.S
MARKET OUTLOOK 4-03-2014
Expect the market to open negative on account of global cues. US market fell by 1% on geo political tension between Russia and Ukraine. The SGX Nifty showing a negative 10 points.
The correction in yesterday’s market is giving sign that Nifty may correct to 6000 again. Because whenever Nifty touches 6300 it faces resistance and trades towards 6000 therefore it is better to hedge the portfolio by buying the 6000 put or 6100 put.
For trading, Nifty has to break either 6320 levels to go long or 6150 on downside to go short till that our advice to wait and watch strategy.
Stocks to watch yesterday we recommended ITC for investment as well as trading today we are advising to buy Idea for investment buy near 130 and keep it for 6 months. We can see Idea trading near 160 again.