Nifty may bounce back: Mohit Gaba

There is no sign of strength yet but there is a sense or reducing weakness. We might just see a bounce in the Nifty today, says Technical Analyst, Mohit Gaba.

February 11, 2013 / 08:12 IST

Technical Analyst, Mohit Gaba:

The Nifty is continuing to drift lower and as mentioned earlier this drifting is difficult to trade. The crucial support areas are 5900 and 5850-5840 zones.

There is no sign of strength yet but there is a sense or reducing weakness. We might just see a bounce in the Nifty today. I waiting for a strong trending day to initiate a position on the index.

first published: Feb 11, 2013 08:12 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347