5 January 2015


Friday’s Tatamotors & Hindalco Call Rocks..!!! Achieved all the targets
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After surging to over 1-month highs, the Sensex today ended with a loss of 46 points and Nifty inched 17 points down. The day began on a positive note with both the benchmark indices crossing key resistance levels. Nifty shot up by 22 points to trade above 8,400-level in opening trade today on sustained fund inflows. Nifty started at 8407 made a high of 8445
and low of 8363 and closed at 8378 total 82 points was moved by nifty throughout the day.
For tomorrow, the levels that hold the key are placed between 8380 and 8450. This range is likely to act as the key support area on which all upside price movement would have to be built; hence, the index should not fall below this range so as to maintain any semblance of real strength.
On the upside, crossing the hurdle at 8455 – 8485 assumes great importance since that would be the first test for the bulls to show their ability to pull things further up from current levels. To talk about real bullish gumption, however, we need to see a decisive break out above the 8500-level. On the downside, if it were to fall below 8350 – 8320 support area there would be further fall but till such time the index slides below 8280, do not expect any significant weakness.
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RESISTANCE: 8470, 8500, 8530
SUPPORT:  8440, 8410, 8380

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