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Jul 19, 2012, 07.58 AM IST
The Nifty opened and started to move lower. It then took support from the 5170 levels and consolidated for a bit, moving up closing above the 5200 mark at 5216, says Technical Analyst, Mohit Gaba.
Technical Analyst, Mohit Gaba:
The Nifty opened and started to move lower. It then took support from the 5170 levels and consolidated for a bit, moving up closing above the 5200 mark at 5216. Yesterday’s price action is a bullish sign however the Nifty should have closed a bit more strongly than it did. If one has gone long they could have a stop loss below yesterday’s low at 5165 for targets closer to 5260-5300 to begin with.
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