Nifty rises 90 pts, more upside expected

In an all round buying session NIFTY rose 90 points and managed to close at 5365. Except first one hour breadth of market improved and continued to get better and better. Trader would approach market with ‘Buy on Dips strategy’.

Hugh writing in 5200 and 5300 Put is witnessed indicating bullish sentiments and area of support at 5300. Trader can go long on Mar 5400 Call keeping a stop loss of 57 (CMP 64) with the 1st price target of 73 and after that 90.

Disclaimer : This article is not a suggestion or advice to trade. We strongly recommend readers to consult their broker before assuming any positions