17, APRIL,
NIFTY 3345.50
Thursday's view still holds good for now. On Monday, if market opens strong and move towards 3400 sharply, then we can assume that a bottom has already formed. Instead, if the market turns weak from current levels (3345), then it may retest its earlier low of 3291. In that case, from the low, Nifty has to bounce back to 3350 region to confirm the low.
Since the stoploss levels are very close and the upward potential is good, we may get a good opportunity to trade in the long side.
But, though the chances are very remote, a sharp move below 3270 region would invite further 200 points fall. So, be cautious below 3270.
Revisiting my earlier recommendation of ACC, it is a short term call made on 12th April, and it has achieved the target on the same day itself. At present, the recommendation has no significance.
