Nifty posted a considerable gains of 25 points on the cards and closed in green at 5327.The broader market stood in the favor of the bulls with 1085 advances to 516 declines.Markets gave a sedate opening,after hovering around 5300 for a considerable time,markets took to days high ,evidencing breakout in the upward direction.It also managed to close well above 5300 mark supporting the bullish trend. After 3 days of consolidation an upward breakout would help triggering the sentiments ,luring the participant to buy at these levels also.In addition the technical indicators are also positively biased, making us bullish.This rally is likely to face resistance at 5360 and 5400 going up.The 5000 levels remains a strong support in short term ,violation of this level will reverse the short term trend and the negative alternatives will open up.Also at this time markets are likely to touch 4500 and sub 4500 levels in such cases.
Currently we need to look ahead for the targets to book our partial profits.
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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