 "Despite bearish technical set up on the charts, Nifty managed to recover from the lower levels on Tuesday")
Nifty not in a mood of going down in Immediate short term
Nifty made a low at 9,043 but staged a nice pullback on the back of short covering. Despite bearish technical set up on the charts, Nifty managed to recover from the lower levels. It seems that Market is waiting for some event to come and it is not in the mood to swing down in the immediate short term. There are good chances that Nifty might extend the pullback towards 9,440-9,500 odd levels. However, it looking at the overall setup, strategy should be to sell on rallies.
Stock recommendation:
Buy Bharti
