Sunday, April 28, 2013

S&P CNX Nifty for 29 April 2013.

The tipping point for the day is at 5880 with 5842 being the immediate support. The immediate resistance is at 5872, 5879 and 5890. The benchmark must trade above 5890 with good volumes to scale new highs.
Our outlook for the day is that there are chances of a breakout today; whether it will be a positive break out or negative will depend upon whether the bench mark conquers 5890 or slips below 5842. Traders may also keep an eye on the volumes, for a breach of the above points without heavy volumes is a false signal.

No comments:

Post a Comment