Nifty and Crompton Greaves Views for 20 May

By | May 20, 2011

Nifty Hourly Chart

 

 

Nifty gave a Breakdown at much publicized  5471 levels and from past 2 days trading in a small range.

Yesterday was an Inside day,Inside day basically means when an Stocks is unable to break High and Low of Previous day.

Nifty was unable to break and was trading in a small range.

Nifty Daily

On Daily Charts Nifty has closed 3 days below the Trendline it broke and still unable to cross it making it clear the selling pressure we are facing on Higher levels.

RSI is oversold so we can get a brief bounce but than should be used to sell into rise and liquidating the Longs held.

 

 

if 5403 Helds for today than we can see a relief rally till the breakdown point of 5471 Levels in coming 2 sessions.

Buy above 5430 Tgt 5452 and 5472

Sell below 5403 Tgt 5365 and 5350

 

Crompton Greaves

Sell Crompton Greaves below yesterdays low

 

Sell below 235 Tgt 213.1 and 228.6

 

 

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