Nifty went for second consequent run on upside for the week with Asian markets yesterday. Commodity prices moving higher which may lead investors to turn into equity side. Bank Nifty did well yesterday. Big boy Reliance moved more that 3% yesterday. Unitech the highest gainer of index with more than 12% gain. Us and Europe markets closed green. Asian markets trading positive. lets see what Indian markets will show today.
Nifty view ::
Yesterday 5054 held well and nifty spurted upside.Island reversal pattern which mentioned yesterday working well for new highs. until the support of Island reversal breaks out buying @ lower levels will continue. A mild bearish Divergence seen on Intraday charts. Only factor to watch here is we are moving upside with low volumes, so how far this rally gonna sustain let see . Impulse state on EOD charts changed to bullish. Bulls are in hurry to open market above 5151 today .For Intraday 5165 and 5072 are Breakout levels. we may witness some fresh buying above october high 5181. Next Market trigger will be from inflation.
Stocks to watch ::
Noida toll
Kiridyes
Havells
Happy trading!!!!!!!!!
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