Thursday, March 26, 2009

Nifty shows -ve div in 5min & Hour but not confirmed by prices...

Now that the March series is out of the way, technicals and value buying should come into play during the start of the new April series.
Though there is negative divergences in both 5-minute & Hourly timeframes, only a weak trading below 3050 and an hourly close below 3035 will confirm it.
Pivot for tomorrow being 3066 & the s1 @3028 may offer a support while R1 @ 3120 may be a resistance area.
Daily trend is firmly up and Nifty is trending up within the channel(A steep channel..!!-how long will it go.??). Intra dips may be used to buy..Part booking on sharp rises is not a bad idea.





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