Indian indices ended flat at 5,320.40, lower by 2.55 points, as tepid IIP numbers and lower than expected results from index heavyweight ~ SBI have outweigh investor’s sentiments.
Nifty has formed a Bullish candle after two days of profit booking, with little shadow on lower side, still holding its breakout gap indicating that short term uptrend is still intact and Nifty finds buying support at lower levels. However, Nifty got struck in a narrow range of 70 pts. Further, suc-cessful close above immediate resistance zone of 5,360-5,380 can push market further upsides towards the 5,450-5,500. However, below the tra-jectory of 5,300-5,280 bull would be in trouble.
Trading strategy would be to Sell if market resist at 5,390 and Buy if support at 5,300.
First resistance for the Nifty is 5,336 and next resistance 5,351 and first support for the Nifty is 5,300 and next support at 5,279.
Losers
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