NIFTY VIEW AS ON 16 JAN 2021 (Major Update on Nifty and Stock Portfolio) Intraday Pick for Monday !!
Intraday Resistance Zone is 14500-14510
Intermediate Support Zone is 13910-14110
Long Term Support Zone is 12030-12850
NIFTY VIEW
Nifty had a consolidated week with ending on not so positive note. However we shall wait to see if it's a pause on another rally or an intraday break down. This move is nowhere near to crash or correction yet. If NIFTY happens to break below the LOW of friday and sustain we may get to see a fall upto our intermediate support zone above. Nifty may look to resist at above levels so ensure to avoid any LONG positions as of now and see how the price is reacting. We are out from most of our holdings in profit as below and carrying 40 percent capital.
PORTFOLIO STOCKS TO WATCH OUT FOR (EXIT EXIT) !!
INDIGO and BIOCON have showed some sign of weakness we have already booked 60 percent capital on both already. If further weakness is observed we shall exit our all ongoing position from both. Same will be announced on trigger in LIVE MARKET.
STOCK PORTFOLIO UPDATE
We have booked profit in 10 out of our 14 holdings
TATA CONSUMER PRODUCT Buy 502 Closing 602.40 (+20%) (Exited 60 percent)
AUROPHARMA Buy 816 Closing 936 (+14.71%) (Exited 60 percent)
BAJAJ AUTO Buy 3001 Closing 3580.30 (+19.30%) (Exited 60 percent)
BIOCON Buy 428 Closing 457.05 (+6.79%) (Exited 60 percent)
TORRENT PHARMA Buy 2645 Closing 2711.70 (+7.82%) (Exited 60 percent)
HEROMOTO CORP Buy 3076 Closing 3203 (+2.52%) (Exited 60 percent)
BRITANNIA Buy 3555 Closing 3609.05 (+1.52%)
CIPLA Buy 761 Closing 823.70 (+8.24%) (Exited 60 percent)
LUPIN Buy 915 Closing 1093.15 (+19.47%) (Exited 60 percent)
RELIANCE Buy 2015 Closing 1937.45 (-3.85%)
DABUR Buy 513 Closing 540.75 (+5.41%) (Exited 60 percent)
INDIGO Buy 1659 Closing 1631.05 (-1.68%) (Exited 60 percent)
ESCORTS Buy 1318 Closing 1321.90 (+0.30%)
RAMCO CEMENTS Buy 836 Closing 822.45 (-1.62%)
INTRADAY PICK FOR MONDAY
PVR Buy at 1487 (If opened GAP UP wait for price action at retracement around 1487)
Heavy volume buying was observed on final session of FRIDAY and the stock is near its resistance on daily timeframe. With the buying volume we can expect the same to be broken if the broader scenario is positive as well. Initial target can be considered to be 1501 however exit 50 percent only so that rest can be hold till the end with trailing stop loss. (Stoploss can be your style).
Ensure strict stop loss if trade goes against you....
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