See Nifty support at 6180-6220: RK Global

Written By Unknown on Minggu, 03 November 2013 | 20.07

RK Global's Technical Report:

Nifty closed with a minor gain of 8 points with a tiny inverted hammer candle. It almost touched it's all time high and finally settled off at 6307.20. Its north ward journey continues, and expected, we will see a new high in coming sessions. On the down side our support levels of 6180-6200 is still intact, so bulls are recommended to remain with this trend until reversal is seen.

Though on very short term chart it looks a bit over bought, as we are in a steep continuous uptrend so leading indicators which looks over bought (on daily chart) may misguide you in such scenario. Rather, form a classical technical perspective we prefer to recommend traders to watch trend following indicators to avoid unreliable sell signal.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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