Another excellent day for markets posting a close at 5431 with handsome gains of 41 points on the cards.The broader markets favored the bulls with 867 advances to 617 declines..The current session turned a bit volatile but ended smartly with ample gains.Now finally we made possible a close above 5400,this has elevated our expectation more ,also the markets seems to accomplish a higher high this time evidencing the uptrend.This rally has more 40 points to bag before it get a hurdle,the 5476 level corresponding to 61.8% fibonacci extension level.
Technically the market seems to be gaining momentum day by day,it looks aas if bulls are set for the 5600 this time.I feel markets to take a halt at 5470 levels and look for a support ,consolidate for few days then make the final attempt for 5600.The MACD is trading with a positive crossover this is a vital evidence revealing the direction of the trend,also the stochastic oscillator is now deeply overbought ,which is indicating a strong impending move after which it could reverse.Presently markets are trading above all the vital 20,40 and the dynamic 200 DMA levels supporting the trend.
My call for tomorrow - if Nifty approaches 5470 levels book profit,if not whole then book partial.
INFY TARGET OF 2550 HIT ,BUY CALL GIVEN FEW DAYS BEFORE
BUY TATAMOTORS -TGT- 275-80 IN COMING DAYS, SL-250
Technically the market seems to be gaining momentum day by day,it looks aas if bulls are set for the 5600 this time.I feel markets to take a halt at 5470 levels and look for a support ,consolidate for few days then make the final attempt for 5600.The MACD is trading with a positive crossover this is a vital evidence revealing the direction of the trend,also the stochastic oscillator is now deeply overbought ,which is indicating a strong impending move after which it could reverse.Presently markets are trading above all the vital 20,40 and the dynamic 200 DMA levels supporting the trend.
My call for tomorrow - if Nifty approaches 5470 levels book profit,if not whole then book partial.
INFY TARGET OF 2550 HIT ,BUY CALL GIVEN FEW DAYS BEFORE
BUY TATAMOTORS -TGT- 275-80 IN COMING DAYS, SL-250
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