NIFTY SPOT FAILED TO CROSS RESISTANCE @ 5383: TIME TO PROFIT BOOKING
The NSE Nifty spot closed at 5357 which was close price of yesterday. This means, nifty spot opened gap up and then closed with profit booking situation. There is a major hurdle which was indicated in previous report too @ 5383. Nifty spot failed to cross that and shown somewhere correction in various scrips. This is the time at which, market is moving scripwise and stood at consolidation pattern. If we look in to the technical terms, lower indicators are in negative diversions and price line is moving above the short term moving averages. The range of nifty spot is 5383 and 5311. Break out will show further movement.
Happy Trading !!
Megha Investments & Research Team
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