Nifty gets closer to support zone of 5950-6000: Sukhani

Nov 12, 2013, 06.13 PM IST

Sudarshan Sukhani's Game Changer - Sixth day of declines brings Nifty close to the 5950-6000 support zone; traders should be alert for support to emerge soon enough

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Nifty gets closer to support zone of 5950-6000: Sukhani

Sudarshan Sukhani's Game Changer - Sixth day of declines brings Nifty close to the 5950-6000 support zone; traders should be alert for support to emerge soon enough

Like this story, share it with millions of investors on M3

Nifty gets closer to support zone of 5950-6000: Sukhani

Sudarshan Sukhani's Game Changer - Sixth day of declines brings Nifty close to the 5950-6000 support zone; traders should be alert for support to emerge soon enough

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Down move continues in Nifty and Bank Nifty. Today prices saw a breakdown in Nifty and now trading near its strong support. Bank Nifty is also trading near its minor support. A breakdown may lead prices to lower levels. Choppiness continues in CNX IT and prices are trading inside a large trading range. We have GOLD in METALS; making a bullish pattern and giving us the possibility of a trade if prices break above the resistance. Then we have CEMENT Sector. Trend is down in this sector and prices suggest that we may see a consolidation at current levels. Stocks in focus include SSLT and GRASIM. For each of these stocks, we analyze their technical picture; identify trades with stop loss and targets. At the end we have USD-INR currency pair.

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