Nifty To Move In 9700-9950 Range; 4 Stocks Which Can Give Up To 25% Upside - Dollar Advisory Financial Services

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Thursday 24 August 2017

Nifty To Move In 9700-9950 Range; 4 Stocks Which Can Give Up To 25% Upside

The Nifty50 is seen consolidating above its key value area placed around Rs9,700 region. The confluence of lower band of the expanding price channel encompassing the up move since April 2017 till date, previous breakout area of June 2017 and 61.8% retracement of the last rising segment converging around 9,700 regions make this a good value area for the stock in the present scenario.

We believe the overall price structure remains positive as the index continues to form rising peaks and troughs on all time frames.

The ongoing secondary corrective phase forms part of the larger degree uptrend and provides incremental opportunity to accumulate quality stocks in a staggered manner.

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