Oct 10, 2012

NIFTY OUTLOOK (11th October, 2012)



NOW IT’S TIME TO SELL AND BOOK PROFITS!!! TECHNICAL INDICATORS ARE NEGATIVE



The NSE Nifty spot closed at 5650 which was low level in previous trading session. From last 4 trading sessions, nifty spot loses its strength and shows the profit booking in the market. Technical lower indicators are showing sell signal and moving in overbought situation. On the other hand, nifty spot price line is coming nearer to short-medium-long term moving averages. Day traders are advised to sell nifty future below 5635 level. 5546 will be next support level after 5635.


Happy Trading !!

Megha Investments & Research Team
 

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