Making Money In Nifty Might Become Difficult; 5 Stocks - Dollar Advisory & Financial Services

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Friday 5 May 2017

Making Money In Nifty Might Become Difficult; 5 Stocks

Action post a strong rally on April 24, 2017 could well be described as consolidation. Though the Nifty made a new high of 9,367, but thereafter, it is lacking the momentum to carry the index above its previous peak.

On the downside, four digit gann number of support of 9,265 and a 90 degree move from 9,367 is acting as an immediate support. This rangebound activity has ensured a choppy movement within the index.

By Friday, we will get a clear view whether the support of 9,310 is holding or not. We are entering a grinding period, where it is not easy to make money on index. So, wait for a clear move on the index and stick to stock specific ideas.

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