Oct 11, 2012

NIFTY OUTLOOK (12th October, 2012)



NIFTY BOUNCED BACK AFTER CORRECTION PHASE



The NSE Nifty spot closed at 5717 up by more than 1% with the higher buying pressure in banking and finance sector. There were huge buying pressure in bluchip stocks too in the nifty 50 stocks. Technical indicators are still showing sell signal. 5722 is the major hurdle where as 5635 is the major support for nifty spot. Day traders are advised to sell on higher level. Nifty will move ahead up only after crossing above 5720 level.


Happy Trading !!

Megha Investments & Research Team
 

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