Today nifty opened with a gap up and sustained the gains.It has taken support and is trading well above the 200 DMA, now it might face a resistance at 5450 levels,violation of this level and close above this will boost the bullish sentiment immediate target for nifty would be 5600-5700 levels.the coming event of BUDGET will definitely have a significant effect on the markets.Traders are suggested to trade considering evrey news that comes prior to budget.
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 ...
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