Downtrend

So increasing crude oil price and increasing inflation is making a severe impact on our market.In addition to it,bad global cues is further causing a downtrend for Indian Stock market.So taking into account these factors,I am expecting NIFTY to come upto a level of 4772.

Direction Is Uncertain

Last week I said to be cautious,but due to easing crude oil price and positive cues from global market our market rallied and has crossed few important levels.But there is still concern for our market.The major problem for our market is the increasing inflation which has touched its 44 month high of 7.83%,which is not a good sign for our market.But still I think, NIFTY can go upto a level of 5191 to 5228.
Also RCOM can go upto a level of 630.
Tata Steel should cross a level of 903 for a target of 931.

Be Cautious

Last week I said you should go long,but in between many negative news propped in.First and the foremost is the global concern of increasing crude oil price and second but not least is our domestic concern i.e" inflation" which in turn is causing a set back for our market. So after taking all this into account I will suggest you to be cautious.On downside NIFTY should not break 4900 level or else you can see a level of 4865.And also on upside it should cross a level of 5000.So right now market is negatively biased,so I wont recommend to buy at this juncture.Wait and Watch.

Go Long

Since in last week my both the targets of NIFTY were achieved on intra-day basis, so I would like to give a further target of 5303 on NIFTY.For this week you can look for:
1.) KOTAK BANK- One can buy at current level i.e 821 with a tgt of 893+ level,which works out to nearly 9% and dont forget to keep a STL at 797.
2.)JAI PRAKASH ASSOCIATE-One can buy at current level i.e 287 with a tgt of 310+ level,which works out to nearly 8%,with a STL of 278.

As a formality let me tell you "Be Careful Before Investing",since the targets CAN or CANNOT be achieved.Also all these targets are given on TECHNICAL BASIS and not on what I think or what others think.