NIFTY OUTLOOK (17th October, 2012)

NEGATIVE DIVERSION IN LOWER INDICATORS: NIFTY WEAK AGAIN

The NSE Nifty spot closed at 5645 down by approx 0.7% with the normal selling pressure and volume. if we look in to the lower indicators, Stochastic and MACD both are making negative diversion which is favorable for long position holders. Day traders are advised to sell on higher levels. Nifty still closed above the support and trying to sustain from the selling pressure. This week, nifty may show more weakness with levels of 5635/5594/5547.

 

Happy Trading !!

Megha Investments & Research Team

 

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

NIFTY OULOOKK (14th October, 2012)

NIFTY STILL STRONG INFRONT OF WEAK DATA

The NSE Nifty spot closed at 5676 down by 0.56% in the weekend. Nifty spot still strong ahead of weak data and global information. Investors and traders thought the nifty for weakness till some days. But nifty spot is  standing as it was. Again as before, 5635 is the major support and 5751 will be major resistance for nifty spot. All technical indicators are showing sell signal. Day trader are recommended to sell nifty future only above 5700 level.

Happy Trading !!

Megha Investments & Research Team