Yes! this is quite possible now on the basis of technical charts, nifty is showing some reversal patterns and the good news is that MACD is showing a +ve divergence which could further support the upside on nifty and we see a technical bounce this week itself, but above 5050,the main hurdle will be to cross 5120, from where correction could be seen and we could see further lower levels.
That is a future view, but presently I see a technical bounce soon this week itself, which will take Nifty to 5050 level atleast.Reliance,Ongc,ICICIbank,sbi,DLF these stocks will rally the most,and not to mention the midcaps.
Nifty should maintain the higher level of 4800 to get this bounce,otherwise we could consider yesterday's rally as a short covering only.
I advise visitors/users of this blog to buy March 5200 call of Nifty which is currently around Rs32-33, my target is roughly 150 on it.
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