Aug 18, 2012

NIFTY OUTLOOOK (21st August, 2012)

Every Eyes On Nifty Spot: Will It Reach To 5600 ?

In previous trading session, we have seen some choppy volatility, both buying and selling pressure on uncertainty of Government and economical issues. Nifty spot closed at 5366 after touching to 5400 which was crucial level for bullish trend. But after all, Nifty spot closed below the major trend line resistance. After seeing this movement, we can't conclude this report by saying bullish trend. But it can be said that 5397 is made a very crucial level for bullish trend. If we analyze daily lower indicators, MACD is still showing upward move whereas stochastic is making zig zag pattern for uncertain trend. In next trading session, Intraday traders are advised to sell nifty future at higher levels if nifty spot opens below 5400 level. Trade in lower volume due to higher uncertainty of trading session.

Happy Trading !!

Megha Investments & Research Team
Posted on Saturday, August 18, 2012 | Categories: