DERIVATIVES
Alpha This Week: An alternative take on the markets
In line with our expectations, the Nifty has stalled its sharp correction on the back of a crucial support near 7930 and an 'oversold' signal on the momentum (RSI) charts. While the index currently trades marginally higher versus the lows of last week, a trend reversal will only be confirmed once the momentum indicators move from a bearish to bullish pattern (see chart). On stocks, we continue with our longs on ACC and Havells. (Prashant Mittal, CFA, +91 22 3043 3218)
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CA Mihir Desai
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