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.

3 comments:

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

    Regards,
    Pinakin

    ReplyDelete