Nifty has support at 5900: Mohit Gaba

The Nifty is drifting lower as expected; however this drifting is difficult to trade. The next area of crucial supports are 5900 and 5850 - 5840 zones, says Technical Analyst, Mohit Gaba.

February 08, 2013 / 08:27 IST

Technical Analyst, Mohit Gaba:

The Nifty is drifting lower as expected; however this drifting is difficult to trade. The next area of crucial supports are 5900 and 5850 - 5840 zones.

Seeing the weakness in the Bank Nifty we might just see lower levels. Personally I am going to wait until a clear/strong trending day happens before I initiate a position on the index.

first published: Feb 8, 2013 08:27 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