"selling below 15800 can take it towards Tuesday's gapup area ..." Dropping below 15800 on Friday, Index tested the gap-up area, though it recovered later to end flat till Saturday. Most sectors also ended flat, though Oil&Gas, PSU Indexes moved positive. The flat A/D ratio of Friday had turned positive by Saturday. Friday's action formed a Bull candle with large shadows on both sides, while Saturday formed a small Bear candle. Both together indicate volatile trading range between Tuesday's gap-up area and previous high of 16049. Overall, up-down segments have contracted since Dec'11. Indecisive until a larger segment gets formed.
Nifty Future Comment : Future premium up from 8 points to 13. Hesitation continues near previous high of 4808. Reverse if holds 4730 or 4750. Action : Sell in the range of 4770-4775 Targets : 4742 / 4725 / higher Stop-loss : 4777
Bank of India (BOI) Action : Buy above 292 Targets : 298/300/Higher Stop-loss : 289 Price sustaining above 5 days EMA and 14 perod RSI in buy mode
Polaris Software Comment: Price sustaining above the bullish rising gap area and price above 50 days EMA Action : Buy above 132.50 Targets : 135.5/137.0/Higher Stop-loss : 131
Biocon Comment : Action : Sell below 268.25 Targets : 263/261/Lower Stop-loss : 270.75 Trendline support breached with a bearish gap down area and 14 period RSI giving bearish crossover
IDFC Action : Sell below 97.00 Targets : 95.00/94.00/Lower Stop-loss : 98 Change of polarity trendline joining previous support area is acting as resistance and price taking resistance from 21 days EMA
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
