Technical Analysis of Indian Equities by Nooresh

Nifty – Headed to 5750-5650.

 

1204Nifty

 

Nifty Technical View

 

- > After a non stop run from 5350 to 5950 it was expected that markets should correct but it went all the way to the trendline.

- > The breakout happened around the 5600-5650 mark so that now becomes an important base for the next few weeks.

-> For the near term the support is at 5750 which is the trendline in blue and any further crack can take it to 5650.

- > A dip closer to 5650 could be again a re-entry point for stock specific or a bounce back trade.

 

We may expect the nifty range to be 5650-5950 but the action would largely be in the broader market.

Article by Nooresh Merani

Nooresh has written 2627 articles.

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{ 2 comments… add one }
  • Hari April 15, 2011, 00:04

    What is the returns u expect in share bazaar in 2011 ?

    Reply
  • SEEMAA April 21, 2012, 13:27

    pLZ UPDATE CURRENT CHART WITH ANALYSIS

    Reply

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