Nifty close to major resistance of 6350: Gaba

The worrying thing is the CNX IT and the pharma sector did not contribute to the up move yesterday hence I have my doubts about how long this rally will last, also we are close to major resistance zones around 6350, says Technical Analyst, Mohit Gaba.

March 05, 2014 / 08:57 IST

Technical Analyst, Mohit Gaba:

The Nifty had a massive up day Tuesday, primarily led by high beta stocks namely the banks. We did manage to trade above the crucial 6200 level hence still the long bias especially after yesterday’s big bullish bar.

The worrying thing is the CNX IT and the pharma sector did not contribute to the upmove yesterday hence I have my doubts about how long this rally will last, also we are close to major resistance zones around 6350.

first published: Mar 5, 2014 08:57 am

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