Nifty view for the week 2-6February

Last week we told you all that 2620 is good support for nifty and abv 2675 nifty can inch higher massively due to short covering and the same happened,Nifty took support at 2620 levels and after crossing 2675 inched upside to touch a high of 2878. A gain og almost 200points abv our resistance level,We hope you all must have njoyd our Highly accurate market analysis. When all other analysts were saying that nifty will touch 2500 levels,we tld you all that massive short covering will take place,with nifty going upside,and exactly the same happened. Nifty following our analysis and making you all earn handsome profits.Our weekly stocks Akruti,Neyveli lig,Cipla etc gave massive gains to you all.

As we told you all last week that Gold loking very bullish,and also gave buy call at 13560 levels, see the result, gold making new highs now and trading at 14500 levels now. Those who followed us are siting on mountains of money. Crude also following the uptrend and making you all mint money. We minted lakhs of profits in last few days in commodity trading.
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February is the uncertain but crucial month for global economy. Results season ended on positive note despite bad results as investors prepared for worst in Q3. In the coming days there are many bailout packages are waiting to be declared.Economists have divided opinions on the outcome of the bailout packages. Irrespective of outcome, the bailout packages may help to improve sentiment in the stock markets. If they fail to yield desired results, there will be huge negative implications.Indian Government has little time to announce stimulus package due to election code from March. UPA Government will announce “popular interim budget” in February from which stock markets may gain nothing if not lose. RBI may announce rate cuts in late February or in early March.US President Barack Obama has prepared ground for massive stimulus package and he is already taking stern measures against careless managements. China and Canada will soon announce big bailout packages.

In short term ,the investors are advised not to infuse fresh money in market. At every rise from here the investors can book profits in the existing portfolio. As we can see ambiguous moves in coming days as much shorts rollover has also taken place,so to be on safe side on must keep booking profits on whenever -whatever basis.
In this week nifty is having good support at 2775 level,if this level is breached and sustained then we can see nifty going to he levels of 2730-2685-2620 again,however below 2620 levels real panic selling pressure will be seen in market. To the contrary on upside there is resistance at 2930 level, if this level is crossed and sustained then we can see nifty rally upto 3010 level. But one should be careful at every rise abv2930 level,as we may see profit booking any time abv this level. So,profit booking is adviced at higher levels. Fresh long positions must not be made at these highs. Nifty range for this week will be 2775-2930, breakout on either side will lead to sharp movemnt on nifty.

Nifty levels
Resistance- 2880-2930-2965-2998-3010
Support-2842-2775-2730-2685-2620

Stocks for the week-
Voltamp Transformer
Oracle Financial
L&T
SBI
ABAN

*Note- Keep booking profits in all stocks at every rise,and keep trailing stoploss while waiting for higher levels.

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