High Noon: Bears back to work after a brief pause

0 views

Skip to first unread message

Rajesh Desai

unread,

Aug 6, 2013, 5:43:39 AM8/6/13

High Noon

[For August 06, 2013]

Sharekhan
www.sharekhan.com

Summary of Contents

PUNTER'S CALL

Bears back to work after a brief pause

The Nifty opened in the negative today, down 21 points at 5664, and is now trading at 5613. In the next couple of days it is expected to head lower till 5560 with support at 5600 and resistance at 5664.

Other technical observations
On the hourly charts, the momentum indicator has turned negative 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 5687 and 5731 respectively, which are crucial levels in the immediate run. The market breadth is negative with 261 advances and 869 declines.

SMART CHART CALLS

MOMENTUM CALLS

Click here to read report: Highnoon

Regards, The Sharekhan Research Team	myac...@sharekhan.com
Visit www.sharekhan.com to manage your newsletter subscriptions