Indices

Wednesday, August 08, 2012


  

(Indices) 5400 LOC For market:

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Sending both alternates bullish & bearish near 5400 levels on nifty, it has strong trend line break out as per chart attached around this level. Same level on sensex comes around 17700.
Successful breakout with participation across whole sectors requires to break this levels on UP side will lead to higher level targets as mentioned on charts. (i.e. tgt1-5645 & tgt2- 5940).

Fail to break this levels will lead to underlying risk to retest further 4900-5000 levels on nifty again as per bearish case on charts..

One should watch out market behavior around this level before final conclusion for higher levels targets in medium term.

Though Trend remains UP as per market outlook but successful break of trend line requires as final evidence for Medium term UP trend for higher levels targets.
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