Nifty is somehow holding the lower end of our downside target of 5880 as per the technical charts. As per the options data we have a downside base at 5800 put strike. Thus if we combine both these data i would square of my short positions anywhere below 5900 and wait for a buying opportunity. As a trader i might lose a trading opportunity if nifty slides to 5800 levels but i am ready for that opportunity loss. We could see world markets giving negative close for the past two weeks but nifty is holding 5900 levels and most of the stocks are close to their support zone or we can say there is nothing to sell in this market.Axis bank is the only disappointing stock in the large cap list and all others and holding their support zones.One interesting stock at this juncture would be CESC as it is about to give a breakout on the daily and weekly charts . I would like to buy some above 337 and it is a good break out above 345 levels. Thus it is a good portfolio bet for 450+ in a year and would like to place a stop below 307. Cipla is another stock which is a decent portfolio bet close to 360-370 as it is a strong support zone and a previous breakout zone.
