Buy Nifty future above 5880 tg
5910,5940,5970 sl 5850
ONGC
future call given achieved first target.
NIFTY OUTLOOK FOR TOMORROW
As we have predicted yesterday nifty after
starting around 5900 could not maintain the level and slip into red to make a
low of 5844 today. The end-of-day price chart for the Nifty does
not reflect that optimism at all. It continues to warn us that we are headed
for a corrective downdraft however short lived that may be before we start
going up again.
It is true that the long term trend of our market is up however As it is, even if you see the market moving up from here, at best a 2% upswing can be seen before a serious corrective swing setting in....
Thus, it may be more prudent to wait a little more
and let the scenario clear up a bit giving us a directional cue . The level
5895 would act as the deciding factor We tend to think a retest of 5860 through
5840 test is more likely during the day rather than the index clearing the
levels beyond 5943 right away. We would be quite wary of the index closing
below 5840 today since that would be a confirming signal of a short downtrend
shaping up. It is true that the long term trend of our market is up however As it is, even if you see the market moving up from here, at best a 2% upswing can be seen before a serious corrective swing setting in....
For free nifty tips
fill the form on the right hand side ----->
RESISTANCE:5900 5920, 5960
SUPPORT :5890, 5860,
5830
No comments:
Post a Comment