Nifty hovering around 5700 levels with no clear indications of trading above or below those levels.It breaks the level one day then climbs back above to fall again on third day.
As i previousy mentioned it needs to trade below that level for 2-3 days to confirm the breakdown.
On Weekly basis it needs to close above 5690-5700 on weekly basis which it fails for the week ended 12th Oct.
Thought the sentiments looks postive round the globe still the Nifty looks vulnerable on charts.Stay a bit cautious on your short term long trades as charts predicting some correction ahead.
on 14th oct 2012
Nifty will face resistance around 5830-5850 levels. However on lower side a convincing close below 5700 & trade below 5700 for 2-3 dyas will mean market breakdown & then next possible target would be around 5450-5500.Action will stay in small & mid-cap stocks.
Traders can look to buy in GAEL,Sasken comm,Amtek Ind & hold for 3-4 months for some nice gains.
on 9th oct 2012
Disclaimer : Trade at your own risk. You are solely responsible for your decision to invest in the stock market or buy or sell any specific shares. The Publisher and the Author accept no liability for any losses or damages of any kind that may result from your investments in the stock market
As i previousy mentioned it needs to trade below that level for 2-3 days to confirm the breakdown.
On Weekly basis it needs to close above 5690-5700 on weekly basis which it fails for the week ended 12th Oct.
Thought the sentiments looks postive round the globe still the Nifty looks vulnerable on charts.Stay a bit cautious on your short term long trades as charts predicting some correction ahead.
on 14th oct 2012
Nifty will face resistance around 5830-5850 levels. However on lower side a convincing close below 5700 & trade below 5700 for 2-3 dyas will mean market breakdown & then next possible target would be around 5450-5500.Action will stay in small & mid-cap stocks.
Traders can look to buy in GAEL,Sasken comm,Amtek Ind & hold for 3-4 months for some nice gains.
on 9th oct 2012
Disclaimer : Trade at your own risk. You are solely responsible for your decision to invest in the stock market or buy or sell any specific shares. The Publisher and the Author accept no liability for any losses or damages of any kind that may result from your investments in the stock market
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