NIFTY TECHNICAL VIEW FOR 12 APRIL 2012
Yesterday and day before yesterday, I have suggested for support at 5193. Nifty has tested a low of 5191 and rebounded. I am not trying to be bullish but we can surely expect some corrective rise. Technicals suggests -
"As long as Nifty stand above 5190, we can expect levels of 5274. I am little doubtful for 5300 but that is not impossible."
Point is that - I will use dip to buy as long as 5190 sustain.
Few important point -
- IIP data to come today. Expected - 6.90% (Surprise if it comes @ 6.35%)
- Is RBI really active in secondary market?
- Rumours of repo rate cut coming.
Read stocks view at www.viecapital.com
Have a nice day,
Regards,
Praveen Kumar
