Nifty ended in green at 5103 posting a gains of 40 odd points on the cards.The markets opened absolutely flat with no gap movements ,holds support at 5050 levels and rises higher.The markets found strong buying around the 5050 levels,markets have tested this level a number of times in past few sessions,increasing its validity.Now it is expected to rise further accomplishing the 5200 levels.The weighted expectations of the participants also is indicating towards the same direction
Today the overall markets breadth was positive with 752 advances to 692 declines.The markets will need stimulus to move ahead strongly,On account of the RBI policy out come bank-nifty is expected to slightly under perform.The downside seems to be capped at 4950 temporarily.Nifty has bounced from the 78.6% retracement level forming a double bottom. Broadly i eaxpect nifty to remain in the narrow trading range , since markets lacking the fundamental fuel to ride the economic vehicle.I continue to remain with buy on dips strategy.
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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