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Prabhakar A.K

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Oct 29, 2013, 1:09:42 AM10/29/13
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Nifty (6101)- Nifty has corrected 150Points from recent high of 6254, while on Monthly basis we are up 6.38% and today RBI policy holds the key for the settlement. Today if Nifty holds 6080 30minutes post RBI policy then rally till 6180 & 6230 is possible while if Nifty fails to hold 6080 and below 6040 then 5970-5976 can be a good support level. Nifty has already corrected 30% for the move from 5700-6254 while 5976 is 50% and 6040 is 38.2% retracement level.

Nifty Monthly chart

Nifty on monthly basis highest ever close has been 6138 in December 2007 and probability of Nifty making all time highest Monthly close after 70months looks highly possible.

NSE.JPEG

MARUTI & DABUR came with excellent results, Dabur Net profit margins @ 14.3% a major positive surprise and company has maintained consistent growth in last 10quaters.

MARUTI results has come above market expectation if Rs.1470 holds then rally till 1650 towards Diwali is possible.

 




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A.K.Prabhakar
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