Technical Levels:Nifty,M&M and RIL for Muharat Trading Session

By | October 26, 2011

Muhurat trading is the auspicious stock market trading for an hour and Half on Diwali (Deepawali).Today Session is from 4:30-6 PM

The practice of muhurat trading has been retained and observed for ages. It is a ritual the trading community has retained with its past. It is a symbolic ritual which has been performed for years.

As Diwali also marks the beginning of the New Year, it is believed that muhurat trading on this day brings in wealth and prosperity throughout the year.

Nifty Daily Chart

Nifty is all Set to touch the next resistance level of 5233 level on Auspicious Occasion of Mahurat Trading.

Last Diwali Market make the high of 5 Nov 6338 in Opening and  pared off the gains while closing the trade.

Lets keep the same in Mind before taking any trade today .

Buy above 5211 Tgt 5235,5245 and 5272

 

 

 

 

Mahindra & Mahindra

M&M gave a much anticipated and expected Breakout above 827 with huge volumes and closed above 858 Level.

Trading Concept: Always be with Winners. Stock making new high will keep making new high till it start forming Lower Lows on Daily Chart.

Buy above 859 Tgt 871,880 and 890

Reliance

RIL has given a breakout 870 level. This was the same level where RIL corrected after its results were declared.

Breaking above and closing at 875 confims breakout and its all set to move near its 200 DMA@907

Buy above 881 Tgt 884,890,897 and 907