The market is now trading in a channel between 10300 and 10630 levels. If the market breaks above the 10650 mark, it has the potential to move further up. This week, the market may start on an uptrend due to the election results in Meghalaya, Nagaland, Tripura, but may peter out by Mid week or end of the week. Hence, a Sell can be triggered if the market weakness at 10600 levels. Sell can be triggered once market breaks below 10300 levels.
For sell calls:
Sell below 10300 levels, keeping a stop loss of about 75 points.
Target 100 to 150 points.
If the Market shows weakness (ie unable to cross 10600 levels), then sell at 10600 levels stop loss at 50 points and target 100 points
For Buy calls
Buy above 10650 levels.
Target 150 to 200 points.
Disclaimer: Stock Market Nifty Prediction for Week of 05 March 2018 post the NE election results. The market view is based on Technical Analysis and should be executed only after completing a proper risk profiling. These are trading calls and hence there is no guarantee of success. All Charts are from Zerodha – one of the best places to trade in the country!. If you have not opened an account, open now https://zerodha.com?c=DK0952