Thursday, 27 July 2017

Nifty Likely To Move Towards 10,130; 4 Stocks Which Can Give Up To 15% Return

The Nifty hit a record high at 10,025.95 for the first time in history and closed above its psychological level of 10,000 on Wednesday session.

If we look at monthly chart index, it is trading in a rising channel pattern and we have got the first breakout above 9,120 in March 2017 from there we have seen a straight rally up to 10,000.

We still expects the rally to extend further up to 10,350 which is an upper band of the channel. On the other hand, markets are trading in overbought zone, so we may see some correction in the near term.

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