NIFTY(5109)-
Nifty on Friday ended trade with a loss of 0.40% but on week on week
basis it has closed with a more than 3.0% gain ,which is positive.
As predicted on our last report first 5140 and then 5162 put up resistance,
as market ran out of volume and also because signals from international
exchanges were getting murkier market did not get any clear direction.
Further may be due to approaching weekend traders were not prepared to carry any
positions and markets shut shop with a marginal loss. Market breadth has
gone narrowly negative.
Today, market will face resistance at 5121,5153 and 5171.Trading below
5117 will push the bench mark down to 5081,5032 and 4995.The index
may correct the gain it had made since 27 of last month but will not threaten the
present rally. Nifty closing above 5120 for next few days with better volume
will clear ways for further up side.
======================================================
Visitors/Members :: Please be considerate enough to show your appreciation to the author for his/her valuable efforts by either commenting on his/her post, or sending an email -> , Contact zahid latif. You may also visit ANY Links posted by the authors in the above post. This only helps the authors be more constructive and lets them know how important their contributions are to the investor community. You may also use the Thank You Button above to Thank the author for his/her article and efforts.
Tell me what you're thinking...
You must be logged in to post a comment.
SB Community Picks
|
