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MOMENTUM CONTINUES

Nifty punches  a 100 points rally on the cards which  has taken nifty to 5200 mark.The broader market stood positive following strong positive global cues with 987 advances to 509 declines.With the rally the hourly momentum has changed positive.Going forward tomorrow nifty is likely to face to supply at 5230,if nifty successfully  sustains above this level then nifty can  head towards 5300.At this level nifty may face a stronger resistance causing it to reverse,since this level is witnessing the resistance of downtrend-line.
                                                                                            The fall from 5345 has retraced from around 50% level negating complete takeover by the bears.Violation of  the downtrend line may lead nifty to 5400.
Tomorrow markets are awaiting for big domestic as well as global event ,so we need to be cautious tomorrow.RBI will be declaring rate cut policy tomorrow,so markets are expected to trade choppy.

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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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