Oct 6, 2012

NIFTY OUTLOOK (8th October, 2012)


The NSE Nifty spot closed at 5747 in the weekend with the real trades of 4888 level which is the lower limit of index circuit. So many stocks have lower lows at that time. As a result, two gaps of 5261 and 5447 were filled due to low of index. Now, as per technical rules, we can't say that nifty has to reach there to fill. Moreover, technical lower indicators are still moving in overbought situation, whereas short-medium-long term exponential moving averages are still below the price line. First time in the history of 3 years, nifty is not moving as per perfect technical, where, nifty is breaking more and more rules of technical. Still there a gap of 4646, which is still unfilled. As a technical analyst, should we count that or not. Some analysts say not to count and some say nifty has to come down to fill that gap. In this time, we need to be very cautious about the movement and volume of nifty spot and market. We need to analyze the major market stocks which are still having the perfect indication of market movement. Traders are encouraged to receive those stock's list in their respective mail ids after registering on our website. Lot of research articles and data articles are being published on our website and blog as well. All these you can receive at free of cost to get knowledge and stay updated.

Happy Trading !! 

Megha Investments & Research Team

Posted on Saturday, October 06, 2012 | Categories: