Nifty: Expect a move towards 5300 or lower
NIFTY view for 28th August 2012
NIFTY (5350.25)
The down moved continued today as expected, The Nifty broke the 5370 – 5400 trading range it had created. The Bank Nifty was the big contributor to the down move today closed about 2% lower. The Nifty closed at a crucial support level of 5350, however given the way the market is setup we could very well see a breach of this level and a move towards 5300 and lower. Mohit Gaba has initiated short positions on the Nifty and would not be surprised if Nifty moves even towards 5200, but that would take a few days
The author could be contacted over e-mail at mohitgaba@gmail.com
NIFTY (5350.25)
The down moved continued today as expected, The Nifty broke the 5370 – 5400 trading range it had created. The Bank Nifty was the big contributor to the down move today closed about 2% lower. The Nifty closed at a crucial support level of 5350, however given the way the market is setup we could very well see a breach of this level and a move towards 5300 and lower. Mohit Gaba has initiated short positions on the Nifty and would not be surprised if Nifty moves even towards 5200, but that would take a few days
The author could be contacted over e-mail at mohitgaba@gmail.com
About Mohit Gaba
The author can be contacted over e-mail at mohitgaba@gmail.com .
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.
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