- > The last time around the trendline Nifty kept struggling at 5900-5950 giving hopes of a breakout but ended up in a quick fall.
- >Yet again the rally has been quick but it will find resistance at 5720-5740.
- > A crossover above 5720-5740 can lead to a quick move to 5900 also.
- > Although the ideal way would be to stock specific and wait for a dip to 5600 or sustained move above 5720-5740 to look for a quick trade.
- > Bottomline the upmove has been fast and a confirmation move will kill all the bearishness. Wishful Thinking ? But as of now the screen shows no bearishness.
->Any dip below 5570-5550 will be first signals of weakness till then the trend remains extremely positive even if we are ready to believe it or not 🙂
-> Even the Bank Nifty is close to a breakout.
- > Expect the action to shift into midcaps/smallcaps.
Some technical charts to watchout for :
Hexaware – Headed to 80 in short term.
IPCA --- Can give a quick move above 350
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