If the Nifty crosses the 5005 mark conclusively in the immediate term, short covering may take it upto 5200 levels. However the overall trend continues to be bearish. Short term up trend will be mostly utilised to exit. Long term investors are advised to be patient. The supply is not over as the technicals of key index stocks suggest that some funds are resorting to portfolio selling in a slow and continued manner.
Tuesday, August 23, 2011
Sunday, August 7, 2011
The Nifty is currently in a bear territory and only if it trades above 5260, it might at best go to 5411 levels. Staggered buying in key index stocks may be resorted to when the momentum decreases in the short side. the only support seems to be around 5075 mark, but that too is weak.