Nov 5, 2012

NIFTY OUTLOOK (6th November, 2012)



NIFTY REMAINED BULLISH, BUT BEARISH IN MAJOR STOCKS: HURDLE @ 5712




The NSE Nifty spot closed at 5702 up by 0.1% with the selling pressure in Banking and Finance sector. In the technical tools, Stochastic (5.3.3) is making negative diversion, whereas MAD (12.26.9) is still showing negative trend for Nifty spot. 5632 will be major support for intraday traders. Medium term traders can make short position with the stop loss of 5712 as per spot chart; target would be 5583 for 3-4 days. Overall trend is positive.


Happy Trading !!

Megha Investments & Research Team

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