Nifty surged on speculation the BJP led NDA will be able to form the next government at the centre and that Narendra Modi will become the next Prime Minister of India after the final phase of Lok Sabha electionsNifty settled at record high above 7,000 level. The Sensex attained record closing high above 23,000 mark. FII Bought INR 1217.95 crs and DII Bought INR 92.56 crs
Shorterm Term
Nifty made one more huge rally and we are now well above 7000 and heading towards 7300 which is tartget as per Elliot wave theory and I am very sure very few retail investors not even 2 - 5% people have particpated in this rally as we were trapped to get away from our longs at 6740. I think it is time to book profit at 7300 and look for lower levels to enter again as most of the price is discounted as per expected results.
Intraday Levels
We are going to see another huge gapup of nearly 75 - 100 points and I am very sure we will not get chance to enter long in this market. Just be on sidelines and enter at lower levels. By any chance if Nifty comes below 7055 levels from higher levels, sell for 7040 and buy above 7065 for 7080 and 7095.
Top pics for the day are TataMotors,BPCL, Zeel, Bharatforge, HeroMotors, CoalIndia,ITC, IndusInd and PFC for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
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