Nifty (spot) strong above 5650
Nifty (spot) weak below 5625
Nifty (spot) Support 5590/5550
Nifty (spot) Resistance 5685/5740
Though Nifty moved up crossing its resistance of 5610/5625 with target of 5775/5800 which may be achieved in the coming days or weeks, Nifty has entered extremely overbought zone with its vertical rise. It may ripe for corrective decline to 5520/5475/5420 which may be achieved sooner or later. It has made a higher top or 5702, but also made a lower bottom of 5195. Hence Nifty needs Higher bottom for confirmation of uptrend in short term charts.
Hindalco in cash above 188...........may target at 189/191..........sl 185
Cairn in cash above 328......may target at 331/336..........sl 321
Relmedia in cash above 131 ....may target for 142....within few days....keep sl at 128....for positional traders
HDIL in cash above 165 ... may target at 172 ..within few days...keep sl 163....for positional traders only
No comments:
Post a Comment