Oct 15, 2012

NIFTY OUTLOOK (16th October, 2012)



NIFTY SPOT SUSTAINING ABOVE SUPPORTS




The NSE Nifty spot closed at 5685 with marginal volatility. Major technical lower indicators are showing sell signal, though nifty spot  is not coming down and sustaining above supports. Day Traders are advised to sell nifty spot only above 5700 level as indicated in previous report. Currently, Stochastic is showing negative diversion which is a positive factor for long position holders. Major resistances are at 5717 and 5751 for day trades.


Happy Trading !!

Megha Investments & Research Team

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