The bear are on track, nifty started at 5940 but could not
sustain this level and dropped till 5873. Finally ended at 5886.In case, there
is any recovery in the market, the Nifty needs to get past the first critical supply
zone between 5930 and 5950 range. Once again, the level of 5940 comes now if
the index remains below this level it would signal a new phase of weakness
coming in, which, by the way, is all but natural after the major liquidity
tightening drive by the RBI...
In Monday's trading so long as the Nifty does not
cross 5980 and close above that no sustainable recovery is likely. The
technical indications are clearly bearish. Despite that if the Nifty manages to
get past 5980 and decisively close above the level then it would be a great
achievement for the bulls. Right from 5970 through 5890 is a major supply zone for
the index.
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RESISTANCE:5900 5940,5980
SUPPORT :5880, 5860,
5820
wht i have to do with sbi ..i have 24 shares of sbi @ 1795 and i can hold only for seven days..wht to do pls tell...
ReplyDeleteFurther, PNB tanked 5%, its lowest level since June 2009, after
ReplyDeletethe state-owned bank said that its gross non-performing
assets (NPA), as a percentage of advances, rose to 4.84% in
June 2013 quarter against 3.34% in year ago quarter.
equity tips
You are such a great analyst and genius on nifty.thanks for sharing.
ReplyDelete