Muhurat Trading -Outlook by JM Financial Services
On the occasion of Muhurat Trading, we wish to share the below outlook on behalf of JM Financial Services:
_Nifty is at a crucial inflexion point of 17,600 above which we can expect an aggressive price action with targets of 18,000/18,100 for the coming week.
Nifty Futures have witnessed long addition of around 12% in the last two trading sessions while Banknifty has witnessed long addition of around 10%. Generally, whenever we witness such addition, markets tend to move in a decisive way.
Position sizing guide is advised to be at Large as expect good momentum above 17,600. FII's have turned buyers in cash in the last two sessions whereas their shorts in Index Futures have come down significantly from early October.
We have curated a list of stocks for Mahurat trading which can be bought.
They are:
AMBUJACEM, AXISBANK, BAJFINANCE, DEEPAKNTR, HDFCBANK, INDIACEM, INFY, ITC, KPITTECH, L&T, RELIANCE & TATACHEM_
- *Rahul Sharma, Director, Head - Technical & Derivative Research, JM Financial Services Ltd*
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