Nifty has opened gap up above the SAR and is in buy mode.
September 7, 2012
September 6, 2012
Nifty approaching 5200
Nifty could not sustain 5250 yesterday. Watch out for Downside support at 5190-5200, and upside resistance at 5260-5300.
September 4, 2012
Nifty Breaks 50D SMA
Nifty's attempt to recover did not sustain yesterday. It finally broke 50D SMA and closed below it. Now 5200 is the level to watch. India's rating downgrade news may be a trigger now.
Fibo Targets:
From To 50% 61.8%
5032 5448 5240 5191
Nifty is currently at 50% retracement.
Fibo Targets:
From To 50% 61.8%
5032 5448 5240 5191
Nifty is currently at 50% retracement.
September 2, 2012
Nifty Closes at 50D SMA
Nifty closed just at 50D SMA. Major supports are at 5250 and then 5200. Both 200D EMA & SMA falls in this range. Below 5200, 4800 is visible. On upside resistance starts at 5300, and then 5350.
Two drops of news to watch: 1) Panel wants GAAR to be extended by 3 yrs. 2) Diminishing hopes for ratecut, diminishing growth rate leading to rating downgrade.
Two drops of news to watch: 1) Panel wants GAAR to be extended by 3 yrs. 2) Diminishing hopes for ratecut, diminishing growth rate leading to rating downgrade.
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