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Market Review for 6th February 2012 

 

 

Nifty (5326) we said ‘technically the market is still up but looks exhausted with the exhaustion bar and so I would not be surprised if a reaction sets in…however 5385 was the logical target’ the market unfolded strong and continued its journey up to its logical target of 5385…technically the next logical target beyond 5385 is 5400 and then to 5434 in the days to come…crucial support exists at 5275…

 

The support for the Nifty is at 5275 and resistance at 5385-5400











Prakash Gaba

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The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip.

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