Nifty

Nifty filled up the gap and closed with a Spinning top!

Nifty has been in pretty positive mood these days compared to global peers where we are witnessing profit booking. Nifty opened up almost flat and remained in the tight range with a derivative resistance of 7700 through the first half of the day but than we did witness some fierce intraday sell-off which did not last for long. We finally recovered all the lost ground and filled up the gap exactly at 7721. Nifty has given a spinning top  creating more confusion ahead. Though derivatives are shifting resistances from 7700 to 7800 but technical are suggesting that Nifty is in Resistance web. So yet no clear trend for the medium term so am just waiting for some one perfect call. Stock specific trading should continue.

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