Published on Mon, Feb 06, 2012 at 08:20 | Source : Moneycontrol.com
Updated at Mon, Feb 06, 2012 at 08:25
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Nifty may test 5434: Prakash Gaba
Technically the trend is still intact up though the market looks stretched the logical technical target still is 5385 and beyond that to 5434, says Technical Analyst, Prakash Gaba.
We said 'The market unfolded as expected and has managed to stay above the crucial 5000 mark and has closed on a strong technical resistance of 5202. Technically the trend is still intact up but the market is due for a reaction and could happen anytime. If the uptrend continues then the next logical target in the days to come is 5385. From trading point of view, I would trade long as long as long as 5160 holds'.
The market yet gain unfolded as expected and has closed positive for the week closer to our target and registering a high of 5335.
Technically the trend is still intact up though the market looks stretched the logical technical target still is 5385 and beyond that to 5434.
From trading point of view, I would trade long as long as long as 5275 holds'.
