Nifty

#21 Nifty Update

NIFTY back on track. NIFTY opened in red on global cues but recovered at the end. It bounced back from crucial level of 5475. Now we could see uptrend for short term till 5619. If it crosses 5619 level then it will validate inverted head and shoulder and we could see level of 5700 there on. LT and Infosys are best buy at these levels. Baba Ramdev is the focus in the media these days.  Govt. is in dilemma what action to take because it may affect its image.  So still strategy is to buy NIFTY with SL-5442.
NIFTY levels for 7th June:-
R-5571  S-5475
R-5609  S-5442
R-5650  S-5400
R-5700  S-5378

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