Sep 3, 2012

NIFTY OUTLOOK (4th August, 2012)


NIFTY STILL BEARISH: CLOSED BELOW DAILY EMA (34)



The NSE Nifty spot closed at 5245 down by 0.3% with the heavy selling pressure and closed at low, which shows the negative trend for some period of time. On the other hand, MACD (12.26.9) is also showing negative trend and Stochastic (5.3.3) is moving below the oversold zone This clearly indicates about further more selling in coming trading sessions. 5209/5166 are the support levels for medium term period. Nifty spot is facing 5311 as hurdle. Intraday traders are advised to make short position on higher levels for intraday profits. As we see and analyze this negative trend, it looks like nifty may come 5150 level in coming sessions. Market is moving scrip wise.


Happy Trading !!

Megha Investments & Research Team
Posted on Monday, September 03, 2012 | Categories:

NIFTY OUTLOOK (3rd September, 2012)



UNCERTAIN TREND IN INTRADAY EVEN AFTER BULLISH PATTERN IN DAILY



The NSE Nifty spot closed at 5259 down by more than 1% in the weekend with the higher selling pressure. On this selling pressure, we can assume the probability of uncertain trend even after bullish patterns in the nifty spot candle stick price pattern chart. This selling was seen after bullish piercing pattern which was indicates about more selling in certain stocks. Short term traders are advised to be very cautious about making positions for short period of time. Nifty spot is now below daily EMA (34) which is bearish. On the other hand, MACD (12.26.9) is signaling bearish trend, whereas Stochastic (5.3.3) is showing zig-zag pattern in the over sold zone which is negative parameter for the nifty spot. For today, major hurdle for nifty spot will be 5311 and support will be 5209.


Happy Trading !!

Megha Investments & Research Team
 
Posted on Monday, September 03, 2012 | Categories: