NF opened on a flattish note,in its intraday journey it managed to close with marginal gains.On the daily chart nifty has closed just below the resistance of 5256,showing slight signs of optimism.The market sentiment remains more volatile ,any bad news is enough to drag it to the lower levels.News on fuel prices ,crude oil are likely to be major concer for the markets in coming days.Big march event the "Budget"is on its days to come.
Today Nifty opened more than 100 points down and Sensex with more than 300 amidst weak global cues.It ended this week following a 4 day losing streak.On daily charts Nifty has formed a long legged doji with a gap down indicating enormous uncertainty for markets next week.The Breadth continued to be in favour of the bears with 700 Advances to 1011 Declines on Nifty.In early trading sessions Nifty recovered about 70 odd points wherein bears pounced with 2nd leg of selling taking Nifty back to 9700. The big boy SBIN came out with a disappointing set of results for which market gave a thumbs down, SBIN & RELIANCE tumbles 5.6% & 2.5% respectively adding further momentum downside.Today was the last session for this week , Nifty made a long Full body bearish candle on weekly charts ,alarming for further correction on the way next week , The ...
very simple analysis on nifty close below 5170 then next tgt would be 5080 or else it will test 5386 which will be good shorting opportunity , nifty clearly in sell zone . sell on rise would be better.my analysis sayas nifty may test 5350-5380
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