I still stand by 3900-3960 assessment
sl narrow = 3815 (updated)
sl wide for trend=3760
All levels mentioned here are nifty spot
Mini short trade from 385x sl 3875
did t3 till 3815
if market is strong we will not go under 3800
if market is weak max dip allowed 3766
Market will take its cue from infy results
if infy guidance is good 25-30% type of guidance
Then you can see a rally in IT
I would go with tcs/infy/wipro/satyam in that order
tcs+infy are very close to breakout levels
keep an eye on them tomorrow.
Midcap IT can also flare up if market likes infy results/guidance
Keep in mind slightly longer term view
bearish at 396x
if 0 discount is seen near resistance, would be ideal shorting opportunity.
break of 3900 can result in 30 pts discount reduction in nf
so risk/reward was appropriate for bulls near 3815 spot today
nf was at 3785
Lots of pharma stocks giving pullback trades to 13/21 ema
look to buy
order of str
divis/orchid/wockhard/dr.red/auro/star/ranbaxy/cipla
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