Nifty could see pressure at higher levels; Top six stocks which are looking attractive

There has been a sharp upside bounce in Nifty in the last three weeks, but this is going to be a temporary trading bounce.

 

We have witnessed a sharp upside bounce in Nifty in the last three weeks, but this is going to be a temporary trading bounce, and there is a possibility of weakness in the market/broader market from the higher levels

The near-term trend for the Nifty is still positive, and the index which is still sustaining above the hurdle of 10,450-480 levels for this week is likely to have a positive impact for next week. Hence, one may expect upside levels of 10,650 by next week.

We have witnessed a sharp upside bounce in Nifty in the last three weeks, and this has given a space for beaten down sectors to outperform.

This is going to be a temporary trading bounce, and there is a possibility of weakness in the market/broader market from the higher levels. Hence, outperformance in the stocks can be used for creating trading long positions by placing strict stop losses.

The main trend of mid and small cap sector is down, and the current upside bounce is expected to halt at the higher levels. An investor should stick to profit booking from the long trading positions at regular intervals

The near-term trend of Nifty is positive, and there is no indication of any exhaustion of current upside bounce in the market. One may continue with trading long positions in the index/stocks and ride a trend. Place strict stop loss.

One may look to buy Escorts, Glenmark Pharma, DHFL, Jindal Steel, Tech Mahindra, Hindalco, and Wipro, at the current market for the next few weeks.

MORE WILL UPDATE SOON!!