Sunday, September 30, 2012

S&P CNX Nifty for the week 1 October 2012 to 6 October 2012.

The Nifty displayed bullishness on the back of short covering. If it continues to trade above the 5675 mark, it will continue to consolidate with bullish bias. For any new highs, it will have to trade consistently above the 5708 mark in the opening trades next week with immediate resistance being at 5752 and 5785. However, on account of truncated week (holiday on 2 October), volumes can drop on Monday resulting in choppy trades. Below 5675, the supports are at 5652 and 5611.

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