Thursday, October 16, 2014

Nifty Chart

Nifty Trade Support 7826-7819 and Resistance 7910-7916
Nifty Trend Support 7790-7784 and Resistance 7947-7955

Expected short covering above the trend resistance up to 8015+
positive divergence from MACD and OBZ in Daily chart, implies
some sideways momentum with negative bias.

Maharastra  and Haryana exit poll election results, Long holidays and
ahead of Festival Diwali   will create some slowdown and profit booking
in market

7767 act as a trend change point on closing basis
7910 act as a trend change point on closing basis



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