Sunday, February 12, 2012

Nifty out look for week ending 17 Feb 12

Nifty weekly chart ended making Doji ...
showing indecision in over bought zone...
media is busy in propagating negative news, like negative results of DLF , RCOM ,RCAP,TATAPOWER and Suzlon ....IT raid on Auro pharma and decrease of gas output  in RIL KG- D6 bloc boosting negative sentiments in traders ..
Nifty will be bullish only above 5432...above 5432 nifty will face next resistance at  5653 ...
in case of profit booking  Nifty will find support at 5250 ..5170..5060 ...4950 ...
advised to stay short below 5432 with sl of 5451 go long only above 5432 with sl of 5399...

EOD  chart

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