We thus suggest initiating fresh longs as per the levels - Religare Broking
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Nifty
* Nifty started the week on a firm note and gained nearly a percent
* Most sectors contributed to rally. Auto, metal and FMCG were top gainers.
* Recovery could strengthen above 18,500 in Nifty else profit taking will resume
* Expect volatility to remain high. Keep a check on overnight leveraged positions.
Banknifty
* FMCG is among the top performing sector & Hindunilvr is trading in sync.
* Hovering around the upper band of broadening formation.
* The recent consolidation above short term MA result in formation of fresh pivot.
* We thus suggest initiating fresh longs as per the levels.
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