MY VIEW
Today market ended in green.Yesterday, as June contract ended in discount and the open interest increased, that may be considered as fresh short.Today as the GDP numbers beat the expectation, that short positions had been covered, which pushed index near 4500 levels, I feel so. As FM announced that the economy has bottom out has given a broad direction for market. I strongly believe that this month contract will have good rally but what goes up has to come down. Market has been rallying from 2600 levels without much consolidation. For this reason I feel, come week market will see some consolidation say 300 points up to 4116 level and from there another rally may begin. Let us wait and see.
Today I sold LT which bought on last Thursday for a profit of 110. I sold it because I needed money, not for the reason that the rally had ended. surely LT will touch 1500 level, one can buy this stock at every dip and hold for short term target of 1550 and for long term target of 2300 levels because infra structure is the main priority in the budget.
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