Skip to main content

Nifty Outlook for 10-02-2011


Nifty has closed below the area of congestion for two consecutive days. This significes a break down in the price chart as well as continuation of down trend in process. Now the 5350 mark will act as a stiff resistance. We expect the prices to fall further towards 4760 mark in weeks to come. Positional holders who have build short with us @ 5900 levels are advised to hold short with 5350 as SL on closing basis.

Please send in your queries to research@tranchegroup.com or to me directly at praveen.tranche@gmail.com

Comments

Post a Comment

Popular posts from this blog

An in-depth analysis on Nifty

Bottom Line : We are in last leg of the first correction of our multi month Bull Run. We will not enter Bear trajectory until Nifty breaches and close below 6580 for three consecutive days. Good Morning! Just now the DOW closed, closed with big gains however closed this quarter on a losing streak. As some of you know, I analyse and trade DOW more than any other market. Let’s get into business. Am going to keep this post a bit longer. As we move towards a longer weekend, let us do the analysis bit deeper. Am going to take you through how a real analyst go through a chart with minute observations to arrive at some conclusion. It would be boring for some who doesn’t want to learn how to make money. It’s going to interesting for those who want to understand how a technical analyst observes a chart.   Firstly, let us pull up the longer term picture of Nifty – the monthly chart. Nifty – Monthly We can easily identify the long term upward sloping trend-line
10 comments
Read more