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NIFTY NEXT TARGET 5485
| From : Cm T at 01:52 PM - Feb 04, 2012 ( ) |
Share it on FacebookBulls are back, and how!
Our observation suggests that the current rally has strong legs to carry the Nifty towards 5,485 in the near term unless it falls below 5,050.
± Penetration above the long-term bearish resistance line in Nifty Monthly Line chart
± Negation of bearish pattern of ‘Evening Star’ above 5,217 and close above 5,195 which is 200 DMA should refuel the buying momentum.
± If the Bank Nifty can hold above 200-DMA and upper trendline of the declining channel, the immediate target should be at 50% retracement (10,600).
± The CNX IT index has witnessed an Inverted Head & Shoulder (H&S) breakout. Prices have clearly broken out of the neckline. Interestingly, this pattern comes when the Nifty has broken its 200-DMA. The current upswing might sustain further once the Nifty sustains above the 200-DMA.
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nifty can move 5434 this week, once it cross 5485 then it can touch to 5647 in coming days
nifty weekly also Inverted Head & Shoulder (H&S) breakout..tgt 5880
Rakesh padhi jee, just i was busy with construction of house, next week i would give calls... thanks sir
After a long ???? so why not giving intraday calls these days ?
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