Nifty Index closing above 6305 may lead to all time high on account of domestic political events and slightly improved economic growth. Major Technical indicators are signaling positive outlook for Nifty which may be confirmed in next few tradings days through expected positive outcome from the current political scenario. Nifty Index may touch 6500/6700 levels, If expected domestic political events happened as like. In case the political events not favoured as expected, the markets might feel negative and selling pressure may happen in core indices through fresh shorts and profit booking. There, Nifty may correct to 6100 and 5900 levels. Bank,Metal&Steel,Automobile,Capital Goods, FMCG and Pharma Stocks are expected to participate in correction mostly. I.T and Telecom sectors are looking better for medium to long term perspctive despite of current market conditions. Investors and Traders are suggested to keep monitoring Nifty levels cautiously and avoid often participating in expensive stocks from core sectors. Investors are also suggested to use this kind of hikes in markets to trim their holdings:Integrated Research Bureau.
