Nifty

#140 Nifty Update: "Male Victim reports Noon Teasing in Mumbai"

Disturbed with the tagline?? Yes..its true..Traders are teased by Sensex and Nifty today, Infact since few trading sessions.Many hiccups in the trading range was noticed in the last few sessions and market players are not able to decide route clearly. Technically speaking the last bounce from 5583 was from a 38.2% level from the last rally 5215-5815. Looking at the Momentum indicator it is not clear completely whether the bulls are ruling or the bears that is why traders are “teased in noon”. Domestically we have all the +ve news spurring the rally but globally we are witnessing instability. US president’s election are the key thing to watch this month. talking about the technical strategy on Nifty, go long at CMP or at every dip with stop loss of 5585..Short term tgt cld be 5965 and we cld even see new high from her nailing this low permanently. So be cautious this series as it will be highly volatile. Better plan your diwali vacation and get charged up for new rally thereafter.

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