Talk about midcap and smallcap stocks, Index is likely to be rangebound till year end holidays

Dow hitting highest close in 15 months + Another short squeeze due to f&o expiry can lead to higher levels in the index but the benchmark indices are likely to be range bound in 5130-5215 till we see huge volumes which will lead to a breakout or breakdown. The first two weeks in January will be crucial as it will mark the return of FIIs who are chilling and celebrating the year end holidays right now keeping all global markets at crossroads.


Nifty View:

5130-5210 is likely to be the range. The major trendline support is now around 4900, any sustained close below 4900 will lead to a major trend change. Either dont be overleveraged or hedge your positions.


Stock View: Noida Toll

Can it be a triangle breakout? Let's see. Buy if it closes above 40 to see an up move targeting 44-45. Stop loss would be 36.5 on closing basis. High risky stock so keep less quantity.



Stock View: Mukand ltd

Mukand is looking good on short term charts. It is a Buy if it crosses and closes above 70 for target of 80 and the stop loss for this trade would be 65 on closing basis.



Some of the stocks mentioned earlier:

Sintex is on the upmove, wait for targets. Electcast hold. Gammninfra targets achieved.



Have a nice trading day and Wishing everyone a very happy and prosperous new year.

Regards

Ankit
09899899989
Call if u have any suggestions for the blog.