Saturday, June 29, 2013

Nifty P&F (Wk 0107-0507) - resistance 5890 / 5980, long cautious till 6000

Recap:

Reversed 1 point above 5540.

Weekly Analysis:

Daily Analysis:

Summary

Weekly paused, Daily Up. In Daily chart, an important zone of resistance BrRL & 50%Fib @5890 level. If it breaks past 5890 level next resistance will be again 2 BrRL & 62%Fib @5980 level.

One needs to be extremely cautious when long still 6000 is captured past.
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3 comments:

  1. pinakinJuly 1, 2013 at 10:04 AM

    Dear Rajib,
    Thank you very much for your update but sir can VPO 5400 still intact or we should buy around small dips.

    Regards,
    Pinakin

    ReplyDelete
  2. RajibJuly 1, 2013 at 11:10 AM

    @pinakin,

    Technically VPO 5400 is always there still it does not give buy signal. It has already given buy signal through double top break-out.

    If you are agile in closing your position, you may buy near intraday supports.

    Regards,
    Rajib

    ReplyDelete
  3. pinakinJuly 14, 2013 at 10:50 PM

    Dear Rajib,
    Can I short nearer to 6000 level and if yes what should be SL for it?

    Regards,
    Pinakin

    ReplyDelete

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