As expected last week, in my report, NIFTY was bullish on the daily scale and touched on Line 2. If NIFTY resists, at line no 2, then we might see it coming towards Line 3. On the other hand, if we have a weekly close above Line 2, then we might see NIFTY moving towards Line 1. The action I prefer is to Sit On Cash immediately , until, the price action turns bullish, by closing above Line 2, which is approximately at 5950
Stocks to watch for upside:
IFCI, Jaiprakash Associates Ltd, Shoppers Stop Limited, Unitech Ltd, Jsw Steel Ltd, Ptc India Ltd, Sesa Goa Ltd, Sintex Industries.
