Short term top of Nifty is round the corner...Nifty falls from 5400 as expected... 5400-5450 will act as strong resistance.

Nifty View:

As you see in the chart, there is a convergence of two red resistance lines which will act as a strong resistance. I feel that anytime a short term correction is possible from the blue zone ( 5400-5450 ), so stay very cautious at these levels. For Intraday traders, Sell Nifty below 5325 and look for targets of 5295-5280.





Stock View: Goa Carbon

The stock is witnessing a nice pattern on the chart, though it just need higher vols to breakout... The stock can be bought on dips to 115-116 with a stop loss of 110 for targets of 130 or momentum players buy it above 120 for the above mentioned target.



Have a nice trading day

Regards

Ankit