CALL FOR THURSDAY 22-MAY-2014
"Buy IBrealest Future Above 92 Tgt 93.90/94.90 Sl 90.50"
Today very
much consolidation was witnessed by nifty. Nifty started at the level of 7265 made a high of
7316 and low of 7235 and closed at 7280.today nifty moved 81 points throughout
the day. If you watch the
movement of the Nifty and its intraday gyrations, you would surely feel that
while the optimism surrounding the new unfettered government it is still
running high yet there is unmistakable skepticism regarding the index holding
itself at such high levels without going through substantial consolidation. This
is what troubles the bears and applying the brakes on the bulls. From a time
and price perspective, we develop a feeling that the price movement had been so
sharp for a few days, time is now playing a catch up game-even if the market
does not breakdown, and it is unlikely to move up in a big way either. Range
bound price swings to continue.for tomorrow the level of 7300-7330 are expected at the other side 7270 proved as very good supporting level.