NIFTY Trend Score

On the last trading day, the Index maintained its level above 5300. Though the range was narrow but undertone was firm. IT sector was the major positive contributor as INFY (Trend Score -13) and TCS (Trend Score +17) gained ground. Other heavy weights such as ITC (Trend Score Trend Score +17) and RELIANCE (Trend Score -3) were also in the positive territory.

The Index is getting stiff resistance at 5350 level despite strong flows. We maintain our positive stance on the market and expect it to go beyond 5350 level as long as its major support at 5200 is intact.

From today onwards, the Trend Score table will incorporate the “Swing Trading” recommendations along with the “Long Term Trending Profile” of the stocks.

The reason for including the “Swing Trading” is to make the stock table more action oriented. Historically, the average swing lasts for at least 3 to 5 days and generates 5% to 10% returns. The “Swing Trading” recommendations will be useful to both active traders and passive long term traders to ascertain the short term moves of the stock. The detailed explanation can be accessed by clicking this link.