High Noon: Assault on Nifty continues

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Rajesh Desai

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20 août 2013, 03:16:5220/08/2013
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High Noon
[For August 20, 2013]
 Summary of Contents
 
PUNTER'S CALL
Assault on Nifty continuesThe Nifty opened in the negative today, down 61 points at 5353, and is now trading at 5402. In the next couple of days it is expected to head lower till 5360 with support near 5380 and resistance at 5508.

Other technical observations
On the hourly charts, the momentum indicator has turned positive and is trading below the zero line. The Nifty is trading below the 20-hourly simple moving average and the 40-hourly exponential moving average, ie 5508 and 5538 respectively, which are crucial levels in the immediate run. The market breadth is positive with 580 advances and 537 declines.

SMART CHART CALLS
 
 

MOMENTUM CALLS
 
Click here to read report: Highnoon
 
 
Regards,
The Sharekhan Research Team



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CA. Rajesh Desai
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