MARKET TREND:
Yesterday Market got consolidated in its value stocks and some of the
mid cap stocks touched its 52 week highs. Nifty hourly charts entered
in oversold zone, where the 50 DMA is supporting. Since last 2days
FIIs have accumulated shorts in Index Futures and Europe Economic Data
is emerging positive, we may expect short coverage at lower side i e.
6730/6740 level. Once 6700 breaks, we may wait for 6500 level on
positional basis. Because of RSI negative divergence, we have to be
cautious with Bank Nifty, irrespective of all good news in this Sector.
Note : due to power cut, could not complete the data.
No comments:
Post a Comment