Nifty and Sintex Technical View

By | May 5, 2011

Sintex Industries

Sintex is trading with rising tops on daily chart and trading firmly above 200 DMA which is adding bullishness to stocks for extreme short term.

RSI rising is positive for the stocks.

Stochastic in Buy Zone.

As shown in chart stock is in multiple resistance zone of group of trend lines and a close above it will bring momentum to the stock.

Buy above 183.50 Tgt 186.7 and 190

Nifty Daily Chart

Nifty has taken support over the trendline which we have discussed yesterday in the chart and gave a bounceback from the levels.

There is one more gap which needs to be filled 5484-5496 levels which filled Nifty closes all the gaps which were formed in march rally.

 

Fibonacci Retracement

If we consider yesterday low @5503 is not broken than we can see a rally till 5597 and 5655 in next2-3 trading sessions.

Buy above 5540 Tgt 5576,5597,5615

Sell below 5503 Tgt 5467 and 5424

Close above 5620 will make the weaken downfall memontum

 

All levels mentioned are Spot  levels.

 

Always trade market based on trading levels not on your emotions

One thought on “Nifty and Sintex Technical View

  1. Dhananjai

    Can we expect 5200-5300 since 5500 is broken

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