Nifty: Another sideways day
NIFTY view for 3rd August 2012
NIFTY (5227.75)
The Nifty traded in a 30 point band the whole session. After seeing it move up and working hard to hold on to these high levels, the upside is limited. The Nifty might move higher, but odds are that a downward break is more likely, as the analyst has been mentioning there has been little support from the Bank Nifty in the recent up move. The analyst has gone short on Bank Nifty, a very aggressive and a high risk trade, but says he believes that it could have a good payoff if it works out. If one wants to assume short positions one could go short on the Nifty with a stop loss at 5250 – 5270 zones. Also note that technically the Nifty is still in an uptrend and a down has not been confirmed
The author could be contacted over e-mail at mohitgaba@gmail.com
NIFTY (5227.75)
The Nifty traded in a 30 point band the whole session. After seeing it move up and working hard to hold on to these high levels, the upside is limited. The Nifty might move higher, but odds are that a downward break is more likely, as the analyst has been mentioning there has been little support from the Bank Nifty in the recent up move. The analyst has gone short on Bank Nifty, a very aggressive and a high risk trade, but says he believes that it could have a good payoff if it works out. If one wants to assume short positions one could go short on the Nifty with a stop loss at 5250 – 5270 zones. Also note that technically the Nifty is still in an uptrend and a down has not been confirmed
The author could be contacted over e-mail at mohitgaba@gmail.com
About Mohit Gaba
The author can be contacted over e-mail at mohitgaba@gmail.com .
Disclaimer: The author has taken due care and caution to compile and analyze the data. The recommendations are his/her personal views. He/she shall not accept any liability whatsoever arising from the use of any of the above content.
Sources have been mentioned at relevant places in the article. In spite of this, the author does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.
World News
Other Articles
- SPA's Daily Technical Outlook
- Shah Advisory Daily Market View
- HDFC Morning Market Note
- Jainam Market Mirror
- Nirmal Bang Daily Market Updates
Featured Author
 |
Motilal Oswal |
- Macroeconomic indicators & Stock markets
- Midcap/Smallcap Indices - Time to catch up and stop under performing?
- MF Scheme Analysis: Franklin India Bluechip Fund (G)
- Note on RBI's Monetary Policy Announcement for 2013-14
- South Indian Bank Q3FY13: Results in line with expectations, retain accumulate More
Also On Valuenotes.Com
Personal Finance
The Art and Science of Buying Life InsuranceInvest early in your careerKnow your PAN card betterStock Recommendation
SBI Q4FY13: Mixed set of numbers, Margins shrink, Asset quality improvesBHEL Q4FY13: Reported PAT ahead of provisional numbersDish TV Q4FY13: Performance below expectation, well placed to capitalize on digitizationMarket Outlook
Week ahead: Nifty surging higher, the bulls remain in controlDow Theory: A tool for technical analystsEquity markets witnessed a choppy session of trade
Reader's Comments
Discussion
24th May 2013 | 12:44 pm
Technical : Stock Tips|Nifty 27 may Monday
24th May 2013 | 11:50 am
Technical : Stock market update today 25 May