Analysts expect the benchmark Nifty to move at least 150-200 points higher from the current levels and are advising investors against taking short positions.
SIDDARTH BHAMRE HEAD- EQUITY DERIVATIVES & TECHNICAL, ANGEL BROKING
Where are We? After forming grave stone doji a fortnight back on weekly chart, Nifty gave around 200 points bounce and then settled around 7500 levels.
What is in Store: If we take reference from daily chart of Nifty, if it remains above the recent lows of 7350, there is possibility of it again moving towards 7600 which is not far. In the fi rst week of January, there is a gap which is created on daily chart and if the buying momentum continues than possibility of filling that gap around 7700 cannot be ruled out.
