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India Equity Research Reports, IPO and Stock News
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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Watch Nifty
Ø Nifty was placed in positive territory and it has immediate resistance at 5390 and 5435 levels. If it moves above 5454 levels, it could test at 5490 levels. On the downside, the support for the NIFTY is seen at 5320 and 5290 levels. Breakout of 5290 would invite short term selling pressure and then 5190 is possible. Technically, Markets are heavily in overbought zone and traders are advised to avoid fresh long positions as profit booking can be expected in coming trading sessions.
Ø On weekly chart, NIFTY broken the downward price channel resistance level of 5290/5390 indicating that short term buying momentum. If NIFTY holds above 5400 and then 5550 is possible in near term. On the downside, the current uptrend is getting weaker only if NIFTY trades below 5190 levels.
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