GO LONG AT DIPS UNTIL NIFTY HOLDS 10000

As we have predicted in our last post correction has witness in the market from the level 10140 and nifty achieved the target of 10100...

The Sensex gained 55  points or 0.17 per cent to end at 32,241. Nifty opened at 10,087 and traded between 10,143 and 10,087 in intra-day trade.while Nifty met with resistance and finally ended gain of 28 points, or 0.07 per cent higher at 10,117. breaking its four session long winning streak. It had gained 176 points in the past four trading sessions. Equity benchmarks ended volatile session on a positive note amid tepid global cues due to disappointing China's economic data on Thursday.

                                              A strong break (close)below 10050 will increase the downside pressure and drag it to 10000,9950. Traders can go short on a break below 10050 with a stop-loss at 10090 for the target of 10000,9950. Technically, Indian Stock Market is still in positive zone. So Nifty would witnessing strong resistance at lifetime highs of 10149 levels .But such a strong bounce looks less probable at the moment. because some Further Profit Booking Expected .but still every downfall would be an opportunity  to go long at every dip in the market. The downside pressure will ease only if   Nifty breaches levels of 10149 decisively. , it would head towards 10200 levels in upcoming sessions.