Now
it is a time to get worried as stock market has fallen for the fourth
consecutive day and has broken the key support of 5800 levels. The trend of
Nifty is in downtrend as 257 shares were only up during the course of the day
with balance trading in negative territory. To add fuel to fire, we have
indications that RBI may not cut the CRR rate as inflation monster is agin
rising.
It is worthwhile to mention here that index has broken the support at points 5800 and if Nifty remians below this point we are bound to see levels of 5760-5711 levels. Technical bounce back generally occurs near supports and thus wee may see Nifty bouncing back near 5750 levels. Nifty is in downtrend since 23 May 2013 and this trend remains down in the short time. On provisional basis, FII's sold Rs 1.14 bn worth of Indian equities, while DII's sold Rs 0.69 bn worth of equities.
Make use of the available opportunity and trade intraday with the tip of the day and make money like professionals as aim is to capture the opportunity at the right moment to get the juice out of it.
It is worthwhile to mention here that index has broken the support at points 5800 and if Nifty remians below this point we are bound to see levels of 5760-5711 levels. Technical bounce back generally occurs near supports and thus wee may see Nifty bouncing back near 5750 levels. Nifty is in downtrend since 23 May 2013 and this trend remains down in the short time. On provisional basis, FII's sold Rs 1.14 bn worth of Indian equities, while DII's sold Rs 0.69 bn worth of equities.
Make use of the available opportunity and trade intraday with the tip of the day and make money like professionals as aim is to capture the opportunity at the right moment to get the juice out of it.
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