Nifty:strong chances of sliding back to 4675.

After a healthy opening market just saw a steady tanking, as a result of which we ended the day on a flat note. Today's move was a sign of exhaustion, as the bulls were not able to keep up to its morning gains resulting into a dismal close. Further, Nifty was not able to clear the barrier of 20-daily simple moving average for third consecutive day, which is a sign of weakness. Additionally, the hourly momentum cycle has turned bearish, which means that in the coming session Nifty may breach the support of 4805, resulting into a lower top lower bottom formation. In this scenario, Nifty has strong chances of sliding back towards the previous swing low of 4675.

• Positive bias for mid term trading are in stocks like JP Associates (Target Rs151), Punj Lloyd (Target Rs206), SREI Infra (Target Rs75) & Spice Jet (Target Rs68). Traders maintain stop loss accordingly.

Investment Ideas

• Essel Propack Ltd (EPL): CMP @ Rs43

--
Safe Harbor:
The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
 
You received this message because you are subscribed to the Google Groups "Investors Please Listen !" group.
To post to this group, send email to investorspleaselisten@googlegroups.com
To unsubscribe from this group, send email to
investorspleaselisten+unsubscribe@googlegroups.com For more options, visit this group at http://groups.google.com/group/investorspleaselisten?hl=en