High Noon: On a seesaw

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Rajesh Desai

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Feb 14, 2014, 2:50:26 AM2/14/14
to LONGTERMINVESTORS, library-of-eq...@googlegroups.com, DAILY REPORTS, globalspeculators
 

High Noon
[For February 14, 2014]

Summary of Contents

PUNTERS CALL

On a seesaw
The Nifty opened in the positive today, up 22 points at 6023. It is now trading at 6012. Over the next couple of days it is expected to trend down till 5960. In this period the key support will be at 6000 and resistance will be at 6054.

Other technical observations:
On the hourly chart, 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 6054 and 6048 respectively, which are crucial levels in the immediate run. The market breadth is negative with 622 advances and 626 declines on the National Stock Exchange.

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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