Nifty: Another sideways day
The Nifty traded in a 30 point band the whole session. After seeing it move up and working hard to hold on to these high levels, the upside is limited. The Nifty might move higher, but odds are that a downward break is more likely, as the analyst has been mentioning there has been little support from the Bank Nifty in the recent up move. The analyst has gone short on Bank Nifty, a very aggressive and a high risk trade, but says he believes that it could have a good payoff if it works out. If one wants to assume short positions one could go short on the Nifty with a stop loss at 5250 – 5270 zones. Also note that technically the Nifty is still in an uptrend and a down has not been confirmed
The author could be contacted over e-mail at email@example.com
The author can be contacted over e-mail at firstname.lastname@example.org .
Disclaimer: The author has taken due care and caution to compile and analyze the data. The recommendations are his/her personal views. He/she shall not accept any liability whatsoever arising from the use of any of the above content.
Sources have been mentioned at relevant places in the article. In spite of this, the author does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.
Have a question?
- USDINR: Momentum indicator goes into sell mode both on daily and weekly charts
- Sushil Finance's Daily Currency Update
- Technical Stock Pick: Bharat Forge
- Way2wealth's Daily Technical Bites
- Way2wealth Morning Note
Also On IndiaNotes.Com
It's all about psychology
Planning for a loan: Leverage your home
Dewan Housing Finance: Net profit grows by a robust 50.42% in Q2FY14
Idea Cellular: Net profit jumps to Rs4476.10 mn, maintain buy
USDINR: Momentum indicator goes into sell mode both on daily and weekly charts
Markets on Election Results