iCharts Discussions

[sraj]

WORLD MARKET

Due to the current status of world index’s, The following points may give some supports and resistance to nifty spot, they are 5270 and 5250 for support, and 5295, 5315 for resistance, above 5315 a perfect bull move will come out, so buy near 5270 to 5250 with s/l of 5200 on closing basis of nifty spot

NIFTY SPOT

Today if nifty spot breaks 5295 then further up move will possible, and if it cross 5313 then power full up move up will come as per today’s nifty levels, if so! you can use it with appropriate s/l , same time if nifty try to come down, there may not be very big fall today,

SOME TECHNICAL REASON FOR NIFTY SPOT’S BULL MOVE:-

Index weighted script Reliance Ind if cross 1125 then further it will try to move to 1175 and 1190, even if it cross 1190 on closing basis for 2 to 3 days ideally then, I can say the next target of RIL will be at 1425 and around, and next other weighted scripts like ONGC, SBI (if holds 2295) all are in some good support range,

Due to the above reasons, our market may have chance to move up further with good targets! even though as per technical rules, there is some important candles which is indicating the nervous and any time drop down situation in nifty spot EOD chart for the past 3 days,

so, for further strong up move (5600++) we have get more conformation from market, they are, nifty spot should break out 5315 on closing basis, next Reliance ind should break 1125, these are the first conformation for further up move today, about other conformation i will give tomorrow

NIFTY SPOT TODAY’S LEVELS

Nifty Spot above 5295 Target 5313, 5358 to 359, 5381, 5464, 5544, 5566, 5617

Nifty Spot Below 5250 Target 5236, 5219, 5201, 5189, 5160


HOT SCRIPT TO WATCH

L I C Housing

Buy above 842 Target 870, 882, 900, s/l 832

Sell Below 832 Target 826, 812, 807, s/l 842

THANKS
MAYASHARE