Momentum is back as the Index climbed 150 points to end the
day at 14911.97. Leadership came from Oil & Gas sector stocks while banking
stocks were in the negative territory.
Today, after a soft opening, we expect the Index to maintain
the uptrend and challenge its psychological resistance at 15000. Major support
is at 14700.
On the last trading day, the swing trading performed
poorly mainly due to the fact that majority of the stock (17 out of 27) were in
the sell mode and the market shot up. Hopefully, this will be corrected today
as the 17 out of 27 scrips are showing buy ratings. We recommend investors to
build positions in the stocks with buy ratings on the dips.
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