Nov 7, 2012

NIFTY OUTLOOK (7th November, 2012)



NIFTY AGAIN IN ITS RANGES, OPPPS AGAIN NEGATIVE DIVERSION IN INDICATORS!!!




The NSE Nifty spot closed at 5724 up by marginal volatility. The index closed with the positive movement but with the negative diversion in the lower indicators. This may result in to somewhere profit booking in the major stocks of index especially in banking and finance stocks. MACD is trying to cut upside which is positive factor for long position holders of nifty future. On the other hand, short-medium-long term averages are giving support on the daily basis. Stochastic has reached in overbought situation at 93.18 which may result in to some correction in coming trading sessions. Beware before making long position in nifty future for 2-3 days.


Happy Trading !!

Megha Investments & Research Team

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