Nifty to remain sideways to mildly Bullish from now on
We need to curb our upside expectations from Nifty Index.
The only stocks that I foresee moving up from now on the upside are -
1. HDFC Bank
2. ITC
3. LT
4. Axis Bank
The other 6 names from the 10 heavyweights have moved significantly and will mostly continue to remain sideways.
Hence, overall I foresee Nifty to be sideways to mildly Bullish.
It is best to be extremely selective of trades and not to follow the Buy on Dip approach anymore.
The only stocks that I foresee moving up from now on the upside are -
1. HDFC Bank
2. ITC
3. LT
4. Axis Bank
The other 6 names from the 10 heavyweights have moved significantly and will mostly continue to remain sideways.
Hence, overall I foresee Nifty to be sideways to mildly Bullish.
It is best to be extremely selective of trades and not to follow the Buy on Dip approach anymore.
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