Trading Suggestions to get 9-15% Return in Short Term
On 12th November, Nifty culminated at 12,690.80 points. The period of hopeful changes inclusive of the US elections and the results of the second quarter has now ended. There are no new driving forces to pull the market further up from the current level it is at.
Since the September lows, Bank Nifty has gone up by 40 percent. Additionally, multiple resistance close to 28,800-29,200 would lead to capping the upside. The markets are being expected to consolidate and it may go down if there is an influx of negative news from the outside or there is an upheaval in the global market front.
The Midcap100 index is expected to test at 18,500 levels and the mid and small caps are expected to go on with their outperformance.
‘The Pharma sector after having double bottom near 11,000 levels is expected to have moved up sharply.
Here are some of the single buy and double sell calls that you need to keep an eye on for the next 2-3 weeks.
Lupin with an upside of 15 percent has come back from its long term two hundred day average after going down sharply after seeing the current high of Rs 1,125.
Mahindra and Mahindra couldn’t cut across their 200-week average positioned at Rs 665 during the previous two months and were subjected to reversal.
Axis Bank with a downside of 10 percent was in the middle of a sudden up move after the breakout of its 200 day average and managed to end close to the apex of the range.