NIFTY Today Opened with a gap down of 15 points @ 4998. It made an attempt to cross above yesterday high at 5025, but failed miserably. Nifty met with heavy selling near 5025 for today and sold off all the way to 4917. Near 4900 area it found support, taking the nifty higher and closing @ 4970.
Nifty has made a minor support around 4900 - 4920 area. And if the selling continues it could take Nifty to strong support zone of 4850. On the upside , a break pass 5025 will give rise to positive momentum taking it up to 5165 Area. And only a close below 4850 will negate an upmove.
Our view on Nifty is Bullish. As mentioned yesterday, an dip towards 4900 - 4920 area should be utilized to enter the market. The strict stoploss of 4850 on closing basis should be maintained. The upside target are 5165 and above that to 5250 Area.
Our closed trade for Today:
SUZLON: BOUGHT @ 64.60 ( 11.11.09 ) - SOLD @ ( 12.11.09 ) = PROFIT 19500/- ( 1 LOT )
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www.aaksharstock.com/equitycurve.html
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