Nifty in broad range 10300-10600
The markets are very volatile and the Nifty will move in a broad range of 10300-10600. If any of these levels are breached on either side, expect a 400-500 point movement in that direction this month. No fresh movement will be seen until the Nifty breaks this range. So, take light positions in the market and accumulate small quantities of good stocks like Yes Bank, Jubilant Foodworks, etc. which have shown positive moves for trading.
It is important for the Nifty to cross 10600 for selling pressure to ease otherwise the sentiment will remain negative as global markets have also started to panic. The US markets corrected sharply last week. Crude oil prices seem to have stabilized. But if it starts rising again, the markets will once again come under pressure. Therefore, be cautious. 1050010600 levels can be used for selling with a stop loss of 10645 for fresh levels of 10350-10300. Among stocks,