Cautious zone!!!. Nifty 5470-5530 is a no-leverage, book some profits and get-out-of-punter- stocks zone too. A sustained move or weekly/monthly close above this zone will only confirm that we have broken out from previous channel and now in a new territory. It doesnt mean that u will go against the trend and start shorting heavily, shorts at this point of time should only be a hedging tool. Book some longs too in this range or trail your stoploss now to 5350. We may see short term weakness if now Nifty falls below 5350.
Stock View: JP Associates
Jp Associates -->>Most underperforming index stock you may say. But now the stock is trying to breakout from 2 month long triangle. The stock ahould trade above 133-134 to give a clear sign. Buy JPassociates only if it sustains above 133-134 with a stop of 127 on closing basis and look for targets of 145/160 in short term.
Have a nice day
Regards
Ankit
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