The Nifty closed on a very strong bullish note. If the Nifty trades above the 5375 mark for longer period with good volume the bull run may continue and if it dips below the 5345 mark a bout of profit taking may occur. However if it remains above 5327 mark on the weekly basis, a short term uptrend taking it all the way up to 5650 or 5700 cannot be ruled out.
Sunday, October 30, 2011
Sunday, October 16, 2011
Saturday, October 15, 2011
The Nifty continues to be in a bullish mode and traders are advised to hold on to their long positions with strict stop loss at 5085 levels. The market can go up to 5235 levels and if this level is conquered conclusively with good volumes, it may go up to 5295 and then 5325. However, profits on longs may be booked partially around 5225 levels. On the downside if 5085 gets broken, nifty might go back to 5002, 4969 and then 4884 levels below which fresh supply will emerge. Investors are advised to watch Coal India Ltd., Sterlite Industries and SAIL as medium term bets and to bid at significantly lower levels then the current rates for portfolio selling seems to continue in these counters.
Sunday, October 9, 2011
The Nifty closed last week on an optimistic note at 4888. The immediate support is at 4802 and fresh supply will emerge only if this level gets broken. On the upside the Nifty will test the 5025 level which if conquered conclusively will see another bout of short covering rally which may push it upto 5295 - 5325 level. Traders are advised to trade long with strict stop loss around 4800 levels. Investors may continue accumulating in key index stocks at significantly lower bids and tough bargains.
Sunday, October 2, 2011
TheRamakantPande: S&P CNX Nifty for the week 3 October 2011 to 7 O...: Nifty ended Friday on a weak note. If 4860 level gets broken then it may test the support of 4720 and go down further. However a sustained t...
Nifty ended Friday on a weak note. If 4860 level gets broken then it may test the support of 4720 and go down further. However a sustained trade above 4990 levels it can go up to 5211. Coal India Ltd. can be considered for bottom bargaining below the 290 levels in a staggered way for a long term investment.