NIFTY CLOSED AT :- 6776.30 ON 11.4.2014
The range of nifty for the coming week is 6819.05 - 6650.40 .It is still looking good.The support and resistance for nifty are given here under :-
SUPPORT:- 6730 / 6704/ 6650 / 6540
RESISTANCE :-6776.75 / 6796.40 / 6819.05 / 6868 / 6917 / 6988 / 7057 / 7197.
Trade with stop-loss based on aforesaid support and resistance level.Please note that if it closes above 6796.40 and then crosses 6819.05 and stays above that it will gain further strength and similarly if it breaks 6704 and stays below that it will show weakness .Since the index is volatile and in great momentum and swings both way during the day,therefore trade cautiously .
REMARKS:- It is in an overbought zone and one technical parameter is showing sign of weakness but as of now there is no potential threat of nifty going down .Please note that if nifty closes below 6694.35 and then breaks 6650 and stays below that then it will be a great threat to the short term up trend.Kindly have a balanced approach in the market when you trade and be flexible in switching side with market movement. Please follow stop-losses religiously .
The range of nifty for the coming week is 6819.05 - 6650.40 .It is still looking good.The support and resistance for nifty are given here under :-
SUPPORT:- 6730 / 6704/ 6650 / 6540
RESISTANCE :-6776.75 / 6796.40 / 6819.05 / 6868 / 6917 / 6988 / 7057 / 7197.
Trade with stop-loss based on aforesaid support and resistance level.Please note that if it closes above 6796.40 and then crosses 6819.05 and stays above that it will gain further strength and similarly if it breaks 6704 and stays below that it will show weakness .Since the index is volatile and in great momentum and swings both way during the day,therefore trade cautiously .
REMARKS:- It is in an overbought zone and one technical parameter is showing sign of weakness but as of now there is no potential threat of nifty going down .Please note that if nifty closes below 6694.35 and then breaks 6650 and stays below that then it will be a great threat to the short term up trend.Kindly have a balanced approach in the market when you trade and be flexible in switching side with market movement. Please follow stop-losses religiously .
NOTE:-1.PRICE STATED
HERE IS OF SPOT MARKET.
2.RECOMMENDATIONS
ARE VALID TILL THE STOP LOSS IS TRIGGERED.
3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL PROTECTION.
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me for strategic guidance to
enter and exit the trade
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