Oct 29, 2012

NIFTY OUTLOOK (30th October, 2012)



NIFTY DAILY MADE DOJI: STILL DOESN'T HAVE PERFECT TREND



The NSE Nifty spot closed at 5666, as described in previous report about ranges of nifty spot. This time, nifty spot made doji, which is a sign of no trend or continuation of existing trend. This star shows the NO TREND for next day. On the other hand, major technical indicators are showing negative trend with negative diversion, but nifty spot is not coming down. This clearly indicates the strength about index. Supports are as it was indicated in previous report i.e. 5635 level. Intraday traders are advised to make long position on deeps with the stop loss of 5587 level.

 
Happy Trading !!

Megha Investments & Research Team
 
Posted on Monday, October 29, 2012 | Categories: