If Nifty goes below 8700 then be a short seller and if it goes above 8900 then go long in the market, says Sudarshan Sukhani.
Sudarshan Sukhani of s2analytics.com says the whole market is now in a trading range and it would be sensible to wait till the Budget events are over to trade in the indices.
Post the Railway Budget and the Union Budget on Feb 28, market could give a decisive direction which could either be up or down. So if Nifty goes below 8700 then he would be a short seller and if it goes above 8900 then one must buy the market, he advises.
Personally he would stay long in the Nifty but that is more an emotional trade rather than sensible one, he adds.
However, individual stocks are giving both buying and selling opportunities. HDFC is on verge of life-time highs and so he would be a buyer in it with a target price of Rs 1380.
IT space is unlikely to be impacted by the Budget, so one can look at buying Wipro, which is a very good chart, says Sukhani.
According to him ACC made life time new highs, which always represent buying opportunity. So, buy it without any doubt
more to come
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