7 June 2012

NIFTY TIPS FOR 8 JUN 2012



It was a follow-up rally of nifty on Thursday led by banks, oil & gas, capital goods, auto and metals stocks. Benchmarks rallied more than 1% on Thursday and over 4% in the week so far.
 The S&P CNX Nifty rose 52.55 points  to 5049,its highest closing level since 7 may 2012. The index hit a high of 5059 and low of 5007 in intraday trade.
We expect the current momentum in the index to continue as the majority of stocks is deeply oversold and a sharp technical pullback on the short covering was pretty much on the cards.
The momentum is still positive and would be supportive for further gains towards resistance at 5,050.. Only if prices manage to sustain above it for a couple of days can the current rally spill over into an intermediate-term recovery towards 5,300 and higher
On the lower side, support is seen near 4,950 




BUY NIFTY FUTURE ABOVE 5070 TG 5100,5130,5160 SL 5040.


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Resistance 1
5060
Support 1
5010
Resistance 2

5090
Support 2
4900
Resistance 3
5140
Support 3
4875



2 comments:

  1. It’s very nice to read this article. This is extremely helpful for me and hope for every one too. in indian stock market, nifty futures and nifty options

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