Author Topic: Nifty- Breakout imminent - Ambit  (Read 2478 times)

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Nifty- Breakout imminent - Ambit
« on: December 18, 2013, 11:47:12 AM »
Ambit Capital Research in a note said that,

the index should break out above 6350 soon. We thus believe the current down-move is only a correction in an uptrend and levels around 6000 will provide attractive entry points into the market on the long side. On the flip side, a move above 6400-6450 should amount to a convincing breakout. In either scenario, we will look to add longs as an eventual breakout remains our base case. Further, with the current quarter drawing to a close, technically our worst case for the Nifty will rise to 6000 from 5700