NIFTY SPOT MADE A BEARISH ENGULF
BUT STILL STRONG
The
NSE Nifty spot closed at 5658 with marginal volatility in major stocks. All
technical lower indictors are showing sell signal with negative diversion.
Indicators are falling but price line remains strong, which is positive factor
for long position holders. As before indicated in reports, 5635 will be major
support and 5578 is the 34 day exponential moving average which will act as
major trend support for nifty spot. Strength of nifty spot is the crucial point
for bullish trend of market. Bluchip stocks are favorable for investment at
this time. Mid-cap stocks will give higher returns if investors will buy and
hold those stocks at this time.
Happy
Trading !!
Megha
Investments & Research Team
