Why it is becoming so difficult day by day to cross 5180-5200?

The answer is that there are multiple tops around 5180-5200, starting from Jan 2008 to as recent as October 2009. That is why bulls are finding it difficult to cross 5200 and they might need some good news as a reason to cross this level and give a big break out eventually.




Nifty View:

Nifty is again finding difficult to cross 5180 and it fell back from 5161 after a weak opening on Friday. This is the third attempt by Nifty in the last 3 days, so it is advisable to go short in and around 5130-5140 range with a small stop of 5190. If not going short atleast book profits or dont create long positions. Green area is an area of good support for markets i.e 4990-5020 and after this the next major support comes at the black trendline which is at 4920



Stock View: Gmr Infra


GmrInfra has been consolidating between 60-75 since July. A clear breakout is visible above the upper trendline with high volumes, if sustains above this trendline then targets are 75-82-90





Have a nice trading day

Regards

Ankit