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NIFTY DAILY - SILENT DAY

Nifty closed in green at 5120 with marginal gains of 6 odd points.The overall market breadth was negative with 716 advances to 736 declines.The market gave an absolutely flattish opening with no gap surprises.The markets lingered whole day sideways in an extremely tight range.,though it did show some oscillation within the range but there wasn't any significant breakouts.In view of expiry the markets are expected to remain choppy for the remaining days.We might hold 5090 level for this series.
         Technically warning signs of weakness have started appearing on the charts.We could take these signals as an indication to book some of our profits.If they show strong sign of reversal then markets expected to move down to attain support.The  nifty is having a good support at the 5000 levels ,successful violation on daily charts would trigger bearish concerns and would impart greater weakness to the markets.Hence for short term 5000 level holds the key.
                                                                                    Till then it  would be very much apt to offer some leeway to the markets till the expiry .

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DOJI

Nifty witnessed an absolutely sedate session,the bias looked positive but lacked momentum . The broader market was negative with 665 advances to 808 advances.The rally seemed to take a halt for a day before continuing further.i feel that the rally would take the markets to 5470-5500 before correction.since we are lacing fundamentally the longevity of this rally cannot be counted on.                                                                                                       On the hourly charts we are making higher highs and higher lows keeping the momentum intact,still as advocated a burst of 40-60 points on the nifty is still pending before correction ,i feel this might come tomorrow.Hence adding nothing more to i...
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