IGI Logo

Nifty Outlook:

While there is ample room for the ongoing downtrend to take down the run away gap of 14481-14281 formed on 2nd February, we are inclined to play the exhaustion in downtrend, having fully achieved the 14740 target that we have set out with, last week. This would mean that, the forenoon is likely to stay clear of 14675, yesterday’s low, and attempt a swing higher to 14868. A direct rise or close above Target Stoploss S2 S1 PV R1 R2 480 - 497 449 371 419 449 497 527 105 - 108 99 93 98 101 105 108 663 - 678 624 572 607 632 667 691 920 - 950 884 864 884 898.6 919.2 933 * Recommendations are for 5 day holding period Traders' corner Morning Star candle formed. MACd exhaustion seen. MACD above signal line Range breakout Notes AMARAJABAT CYIENT FSL SONATSOFTW Stocks Buy at open or on dips to 898 Buy at open or on dips to 635 Buy at open or on dips to 101 Buy at open or ond dips to 460 Actionable ideas higher to 14868. A direct rise or close above 14950/15000 should however be taken as a signal towards more upsides, whose sustainability is doubted though, at the moment.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer