Nifty outlook for Tomorrow 04-Mar 2011

It was another good trading day for Indian stock Markets, however Nifty showed some choppiness and quite volatile sessions but finally managed to close in green. After a long white morubozu candlestick pattern, Nifty made nearly harami candlestick pattern on Daily charts, which shows that bullish momentum has declined a bit. Buying interest may be continuing if Nifty manages to sustain above 5,550 levels. Else some profit booking may also be seen. 

For Intraday trading tomorrow, trend deciding level is at 5,540-5,550. If Nifty shows strength above this levels, then rally to 5,600/5,640 levels may be seen. If Nifty does not show strength above 5,540 levels then profit booking till 5,475/5,430/5,400 may also be seen.

3 Responses so far

  1. Great site. Good information. Like it. Will be back to read more soon.

  2. hello sir..recently you commented on my blog. i too like your blog. but my main concentration is to nifty & mini-nifty. i am still not technically perfect. whatever i am learning i m posting it on my blog. trading in mini-nifty without stoploss came to my mind only after i lost some money trying to earn money by trading in nifty intraday that too in qty of 300-500-1000. But later i understand the fact that this mkt doesn't work at emotions. so as i was technically no where i started cycling mini-nifty without stoploss. luckily mkt was also in corrective mode & in corrective mode mkt always gives whipsaw movement i earned till today but my style is still not perfect. i m still learning. you too share your views.

  3. safex says:

    8th march market looking upward

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