CONTINUATION SEEN 10.06.25

CONTINUATION SEEN 10.06.25

By Dr C K Narayan

June 10, 2025

No jitters in the new week as both indices continued higher. Although most gains went away with the gap and the usual behavior of consolidation thru the day occurred, the upside traction is maintained. Today market seems set to continue. Now, we had a buy on BankNifty above 56000 and that trade is a 1000-point in the money. My target is around 2000+ points so, ideally, we should be holding. I am using a trailing stop approach. But each to his own. Similarly NF was a buy above 25K and that too is now in the money. I have also been stating that one should engage in swing trades rather than day trades. So, even if indices and stocks languish a bit, don’t worry. Play the bigger cycle here.

SBI trade is a good example of this. We went long in this one below 810 and had to endure some huffing and puffing- without the trade being threatened in any way- and it has started moving now. Remain long for targets of 834 and 851 ahead.

Since NBFC are big beneficiaries, one should have a name or two as a trade vehicle. Poonawala Fincorp seems to be revving up for 460-485 range (cmp 432). Jio Fin looks decent for continuation. LT Fin was mentioned yesterday. To continue that one too.

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