Aug 16, 2012

NIFTY OUTLOOK (16th August, 2012)

Nifty spot bullish till 5600: if open above 5390

The NSE Nifty spot closed at 5380, which is a very crucial level for next day's opening. If today nifty spot opens above 5390, nifty will have a highway till 5600 level . Nifty is very bullish from some couple of days, if we see daily movement. On the other hand, stochastic is making again upward cutting move for bullish trend and another indicator, MACD is also showing strength. MACD is not showing fresh cutting upward but showing a positive indication for bulls. On this trading session, nifty can open gap up and show the buying pressure. Intraday and Medium term traders are advised to long in nifty future to make healthy profits with the support of 5257.

Happy Trading!!!

Megha Investments & Research Team

Posted on Thursday, August 16, 2012 | Categories: