Nifty Follow up
So as per predicted 7650 on closing basis is the STIFF resistance
Wednesday, August 06, 2014
Tuesday, August 05, 2014
Nifty Chart
Nifty Trend Support 7559-7551 Resistance 7777-7789
Closing basis Resistance 7750
Oscillators are at Over Bought Zone, So any GAP UP is for profit booking
Negative divergence in RSI(14) already issued the down trend, So the same
trend line in RSI is the resistance for UP-Trend. RBI policy today will issue
volatility. Sustained above 7750 on closing basis is +ve for further move.
Buy on every DIP is the strategy for a week time. I will wait for the Trend
Support to buy. Triangle breakout shows nifty will touch TREND Support.
+ve Scripts BPCL / CAIRN / CESC / BOB and Canara Bank
-ve Script Ranbaxy etc.
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