Nifty rallied more than 150 points and closed at 4870 today. In our last blog, we clearly mentioned about strong support 4700 for Nifty. We must look at volume front when this kind of rally happens, and today's volume were very low as compare to previous few days. Open Interest also got decreased, it seems short covering kind of rally today. we can't expect strong upside movement till fresh longs built up.
Whoever managed to buy Nifty near 4700 can keep stop loss around 4750 and expect target 5000-5050 in short term.
Our long calls GMR Infra and Tata Motors are still alive, and one can go long in Apollo Tyre only above 66.10, stop loss will be near 63. It can move with good momentum towards 71-72 once closed above 66.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
Whoever managed to buy Nifty near 4700 can keep stop loss around 4750 and expect target 5000-5050 in short term.
Our long calls GMR Infra and Tata Motors are still alive, and one can go long in Apollo Tyre only above 66.10, stop loss will be near 63. It can move with good momentum towards 71-72 once closed above 66.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
No comments:
Post a Comment