Moneycontrol
Oct 05, 2012 08:09 AM IST | Source: Moneycontrol.com

Nifty may test 5850-5870: Mohit Gaba

We should proceed toward 5850-5870 levels as there is no sign of weakness as yet, says Technical Analyst, Mohit Gaba.


Technical Analyst, Mohit Gaba:


The Nifty opened with a small gap up and traded higher in the first 15 minutes of the day after which it held on to those gains for the rest of the day.

As I said on Wednesday chances are the Nifty will move up and it did just that. We should proceed toward 5850-5870 levels as there is no sign of weakness as yet. I closed my Bank Nifty long positions locking in 200 point of profit.

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