Oct 28, 2012

NIFTY OUTLOOK (29th October, 2012)



NIFTY RANGE BOUND: 5635-5751, BREAK OUT WILL SHOW FURTHER MOVEMENT



The NSE Nifty spot closed at 5664 down by approx 0.7% in the weekend with little bit of selling pressure in the major index stocks. It is seen from some couple of days in nifty spot, the index is trading between in a perticular range bound i.e. 5635 to 5751 levels. In technical, major lower indicators are showing negative diversion but showing sell signal. Major support are at 5635 and 5613 for today and major resistance is at 5751 for this week. Intraday traders are advised to buy on deeps, nearer to 5600 level.


Happy Trading !!

Megha Investments & Research Team
 

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