On Friday, Nifty bounced as expected, but failed to close above 5500. Technically, Nifty must close above 5500 to sustain its bounce, any drift below 5450 will push Nifty towards its last week low, once it breaks 5400, fall will be sharp towards 5350. Still there is lack of buying above 5500 level & lack of buying and fresh selling by FIIs may sustain bearish trend.
On Friday US & European Markets were dragged by Greece Debt worry. Indian market can rally on upside only on the news of monsoon if it arrives in Kerala on time.
Strategy for Nifty Trading -
Buy Nifty above 5500 Tgt 5580 -5600 sl 5450
Short Nifty below 5470 Tgt 5400 sl 5500On Friday US & European Markets were dragged by Greece Debt worry. Indian market can rally on upside only on the news of monsoon if it arrives in Kerala on time.
Strategy for Nifty Trading -
Buy Nifty above 5500 Tgt 5580 -5600 sl 5450
No comments:
Post a Comment