Nifty Future:

As written on last Friday, Nifty Future got resisted at 7625 and reversed all the way to around 7160 falling over by 450 points discounting the good news of stable Government formation.

This week is going to be very important since last week Spread of market is very high both in Nifty and Stocks. I think, market could continue to move in rotation throughout this week, to keep  spread at manageable level and probably could resist around 7400 and support can be anticipated at 7140.  Emphatic move beyond these levels can trigger again range expansion and market could move on momentum to the direction of breakout..

In Individual stocks, I continue to maintain bullish stance in Banking stocks and a few stocks in Infrastructure sector.

Trade Well and Best wishes !!

C T RAMESH RAJA