Wednesday, 13 April 2011

Nifty Outlook for 13-04-2011

Nifty Daily Chart: I expect at the opening of today's session, we would enter into the target zone we have set for the week. RSI and MACD would also complete the pattern that we were discussing on weekly outlook earlier this Sunday. In today's chart I have added Keltner Channel to have a fair idea how far we pierce through the target zone. I expect the prices to move below the mid channel at 5719 and close above it today, to complete the pattern for the week. Safe positional traders can book profits at opening fall and risky kindly hold on until we update.

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