InvestorQ : Can you share some good stock trading tips for Monday 08 June 2020? Will Nifty and Sensex face resistance on Monday?
vaishnavi mhatre made post

Can you share some good stock trading tips for Monday 08 June 2020? Will Nifty and Sensex face resistance on Monday?

Answer
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diksha shah answered.
4 months ago


Markets may take a breather this week after the 12% rally in the last 2 weeks. The level of 10,400 on the Nifty could prove to be a resistance for the markets. Hence, long side traders may need to be a tad cautious this week at higher levels.

· Use higher levels to exit IOCL, NMDC and Vodafone after the phenomenal returns in last one month. Trades can buy SBI at Rs.188 for target of Rs.230 in 1 month.

· On Friday, Havells was recommended at Rs.547 for targets of Rs.620. If you missed out that trading idea, you can look to add that on Monday.

· It is time to play agri theme with monsoons on time. Traders can buy Rallis at Rs.234 for targets of Rs.270 in a month. Traders can also buy UPL for target of Rs.500 in a quarter.

As a new week commences, long traders could face resistance around the 10,400 levels of the Nifty. Look to trade accordingly.