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BULLISH STOCKS: SIEMENS, RELIANCE, TATAELXSI
Nifty started the session on a positive
note at 9,623 level and went on to record an intra-day high of 9,643. However,
witnessing selling pressure at higher levels, the contract started to decline
and marked an intra-day low of 9,595.Nifty is volatile. Traders with a
short-term view can initiate fresh short positions on a decline below 9,600
levels. The NIFTY can decline and test support at 9,600. Further decline below
9,600 can find supports at 9,580 and 9,560 levels. On the other side, the nifty
needs to decisively move beyond 9,640 levels to strengthen the bullish momentum
and take nifty higher to 9,665 and 9,680 levels.
On
the daily charts, Nifty have formed
a DOJI is
a particular signal showing indecision about the direction
of the market and it represents a tug of war between buyers and sellers. It
simply shows that prices have moved above and below the opening price during
the day, but then the session closed either exactly at or very near the opening
price. The overall result is a standoff. It shows that neither the bulls nor
the bears were able to gain control during the day and it is possible that a
turning point could develop soon……..
DAILY CHART FOR NIFTY
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