From Our Technical Desk
5966 - A key pivot
Again for the second consecutive day, Nifty maintained its downward movement to end the day with a loss of 70 odd points. However, on closing basis it managed to hold the psychological important level of 6000. Moreover, now the level of 5966 will act as a key pivot, because the break of this level will incur the lower top lower bottom formation and hence the probability of market sliding further upto 5830 will increase.
BSE Capital Goods
BSE Capital Goods index has reacted southward after finding resistance at the 20-DSMA and hence in the near future it can correct upto 15,500 level.
From The Dealing Desk
Trading Ideas
- Remain stock specific from current levels.
- Trading ideas which we like are KFA (Target Rs88), Jindal Saw (Target Rs248), Naga Fert (Target Rs40) and Spice Jet (Target Rs98). Traders maintain stop loss accordingly.
Investment Ideas
- Torrent Pharma: CMP @ Rs552 (Target Rs650)
For more details contact http://www.insighttechnical.net
No comments:
Post a Comment