Nifty - What now ?

The Nifty gave a 'correction' and it seems the Market Breadth was quite negative - 1:3. Some of the index heavy weights have given sell signals in intraday.

Watch the 5230 level in intraday and 5205 on daily charts... Keep them as SL for long positions. Resistance on upside is at 5300-5310.



World markets too are range bound with the Euro recovering against the USD. It has bounced back above 1.24 (as indicated in a couple of blogs earlier).

Many midcaps are positive / turning positive and may provide a good move.. In fact for one stock , we had done a 'Techno-Fundamental' analysis yesterday (in my practical fundamental analysis batch). Seems quite interesting..May be I may write about it in my coming blogs. . .

Happy Trading

CA Rajiv D Khatlawala
www.investogyan.com