April 16,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
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S&P NSE NIFTY Closes at 4879.65. BSE SENSEX Closes at 16,153.66.
NIFTY moved up in expected lines. Infosys results have provided some trigger, especially to IT sector which stayed as laggards. Little bit momentum in IT stocks would make their charts look more bullish. TCS looks good. It may turn fantastic, if positive momentum continues in today's session with a good higher close.
It was mentioned - "NIFTY is likely to test 4815,4915 & 4970 levels in short to medium term" in yesterday post. NIFTY has tested 4815 & 4915 in yesterday rally.
4970 - short to medium term target, is yet to be tested. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term.
Crucial support level remains unbroken. NIFTY is likely to close around 5200 levels in short to medium term. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
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Dear Visitors,
This Blog is really nice and informative. We are pleased to know this
blog is really helping people. Its our pleasure to post informative
content on this useful blog created by webmaster.
As we all know
Indian
stock market is guided by global market now days and most of the
investors are still trapped in market due to recent fall.
They were unaware about past correction. However still they are holding
lot many scripts in there portfolio and we feel they would like to
know the future prospect of those shares.
In order to facilitate all traders and investors we are coming up with
new stock market section in which all investors and traders will come
and post there queries, suggestions and we will post reply too and
moderate it aswell.
We feel it will give good information and boost to the sentiments of
investors and traders as they can extract relevant information from
our
site.
One more good news we are also coming up with Live
href="http://sharetipsinfo.com" title="stock market commentary"> stock
market
commentary . You can stay online on the site for latest updates.
We assure you it will be very useful for everyone. As we will take
care
of all investors and traders.
Please feel free to contact us for any query.
Have a Nice trading days ahead.
Regards
SHARETIPSINFO TEAM
9891655316
9899056796
9891890425
NOTE – Please note we have not posted this article for our promotional
purpose. We have posted it in this blog just to let people know that
we
are here to guide them and they can get useful information on our
site. Which can answer there many queries.
Still if you feel we have offended your blogs policies then we are
sorry for it and inform us we will take care in future.
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