Nifty holds 4385 on closing basis

By | August 12, 2009

Nifty at last held the crucial support of 4385 on closing basis.This will be treated as a good trend reversal sign as per my understanding.Adding fuel to the fire is dow shooting up 160+ point as i write this post.

Nifty now will face resistance around 4501 4544 4562 and 4600.

Few Trading Ideas

Formed a bullish hammer on EOD charts Facing resistance around 34 EMA buy of 687 for a tgt of 700 719

Suzlon as i am bullish on this stock from past few trading sessions Real run up will start once it start moving up above its 5 EMA which is at 87 for a tgt of 90 and 94

RIL also will move above 2012 for a tgt of 2034 2069 2096

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