Bulls are not giving Bears even an inch of space to breathe

Yes, that's what Bulls are doing so from the time when Cong won 2009 lok sabha elections or we can say even before that. Bulls are hitting back and they are hitting back hard, as u must have seen what happened on Friday after12:30 pm. Nifty opened gap down and went to lower levels gradually till 4800, after forming a sort of base at 4800 it bounced back sharply to levels on 4950. Dubai crisis might loom large on the stock markets worldwide for some more time after it is clear that there will be no further repercussions due to this crisis.


Nifty view:

Nifty bounced back from 40 points before the next major support of 4767 after 4838 was broken convincingly. The next major resistances comes at 4986 and 5020 and supports are 4870,4840. Markets may remain in a range of 5100-4770 unless something major happens on Dubai front which could take market down.



Stock View: NiitTech

Now red trendline signals DANGER and green trendline signals Go Go Go!!!. Breaking red line which is being obeyed since October will take it to 135 odd levels. Breaking green line or sustained above 163can take it to 175 odd levels. Just wait for the Breakout or Breakdown!!!




Have a nice trading day

Regards

Ankit