You must
read previous articles and watch above chart carefully to understand this
article completely.
I gave
three levels to watch for yesterday starting from 5040 < 5065 < 5082.
Each level was explained also. We have seen a high of 5060 on Nifty. So where is
it pausing?
5065 – It
is 200 days moving average. To get any further rise, I will be focusing on the
crossover of 5065. Cross will push Nifty towards major trend (Resistance) line
which is running @ 5100. (It is plotted on the above chart).
SGX NIFTY
is moving in the zone of 5000 to 5010 which is giving a hint for soft opening.
IN that we must focus on some crucial supports.
First
support will emerge immediately @ 5002 and then we can hope for support @ 4980.
Today is
Friday and 5th day from the recent low of 4770. If it has to change
the trend then today might be the day but such possibility is low. We must remember
that FII came with some good buying yesterday.
I can say
that, this market may give you a feeling for weakness and fall but those levels
may trap bears again.
There is
just one alter sense which is going in favour of bears. That point is that
market is turning shy just below 200 days moving average. If this market has to
top out then it is a perfect levels (200 dma) and perfect day (5th day
from recent low).
I will be
cautiously on buy side but today is that day when I can/may change my view
during intraday. Let us see.
Depending
on market condition we will release intraday updates too. Till that time, you
can post your views also so that I can present better result for you. Intraday
posts are available on www.viecapital.com
only.
Read
www.viecapital.com for stocks views
Follow us
on twitter a/c 'viecapital' to get intraday updates.
Thanks
& Regards,
Praveen
Kumar
Mail id –
Praveen@viecapital.com
Mobile
number – 09893369889
