Nifty falls back from 5250-5300 as expected, Chennai Petro targets achieved.... Now keep a trailing stoploss at 5100 for longs

Nifty View:


As you see in chart, these 3 dark red resistance lines will act as barriers for any upmove in Nifty in future, these are placed at 5300, 5500 and 5750. Once 5300 ( previous high ) is crossed with convincing vols then u can expect a move to 5500. In each case please look for larger vols and market wide rally to confirm that its a breakout not a FAKEOUT!!!






Stock View: EverestInds


The stock is witnessing a triangle chart pattern and is making higher lows in last one and half month. EverestInds need to sustain and close above 185-187 for targets of 205/220 in short term. But make sure that you buy only if it sustains above 185-187.




Have a nice trading day

Regards

Ankit