Nifty observation -
Nifty is trading near 5900-5940 levels and is expected to trade with a positive bias with supports near 5880-5850-5800 levels.
In the run up to the Budget 2013, it's expected to trade in a broader range of 5800-5850 to 6000-6100.
A breakout on either side would like to be majorly on account of the Budget announcements.
However, lot of bullishness can be seen on daily charts of individual stocks like, ACC, LT, BHEL, Relcap, Ambuja Cements, Bharti Airtel, CIPLA, Tata Steel, Tata Power, Sesa Goa, which can be taken as a positive sign for Nifty going forward.
Moreover Nifty has also give a +ve swing divergence on daily charts and is trading in the oversold region.
We advise traders to trade with strict stop losses and with proper position sizing.
Cheers
Hrishi
Nifty is trading near 5900-5940 levels and is expected to trade with a positive bias with supports near 5880-5850-5800 levels.
In the run up to the Budget 2013, it's expected to trade in a broader range of 5800-5850 to 6000-6100.
A breakout on either side would like to be majorly on account of the Budget announcements.
However, lot of bullishness can be seen on daily charts of individual stocks like, ACC, LT, BHEL, Relcap, Ambuja Cements, Bharti Airtel, CIPLA, Tata Steel, Tata Power, Sesa Goa, which can be taken as a positive sign for Nifty going forward.
Moreover Nifty has also give a +ve swing divergence on daily charts and is trading in the oversold region.
We advise traders to trade with strict stop losses and with proper position sizing.
Cheers
Hrishi
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