MARKET
ROSE AFTER MAKING BEARISH ENGULF: ODD MOVEMENT
The NSE Nifty spot closed at 5716 up by
approx 1% with the buying pressure in banking and finance stocks. As in
previous reports, we have described about the negative diversion of technical
lower indicators for buying position holders. Here, Stochastic is making fresh
cut upward to make price line up. On the other hand, Short term daily
exponential moving average is acting as major support and showing some fair
idea about the real trend of market. Market is strong only above 5600 level.
Long position holders should make stop loss at 5787 now.
Happy Trading !!
Megha Investments & Research Team
