Market Outlook for 3rd March 2014

Posted By : Kishore B.S

Dear All,

Last month was a profitable month for the Bulls, Nifty and Bank Nifty rallied more than 3%.

Looking forward Nifty trading near 6300, breaking 6320 resistance will take Nifty To 6400 and 6450. But the concern for the market is from the banking and financials. The Bank Nifty Trading below its 200 day moving average. Without the support of banking financials it is difficult to see Nifty trading all-time high.

Stocks to watch out is ITC as from the past 4 Months ITC was trading in a narrow band. If it breaks 330 it would be advised to go long or buy stocks keeping 320 as a stop loss, target is 340and 345.

Cheers  !!

Team SMI

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