GEPL Technical view on Nifty – 25th January 2011 (video)


Today, Market closed at 5743 with a gain of 46 points comparative to its previous close. We at GEPL were of the view that a counter trend rally should take place which can lift up Nifty up to the mark of 5790 and which partially materialize today. We are also saying that any counter trend rally should be used to exit stuck up long position indicating a temporary relief on positional basis. Intraday trading, support is placed at 5700and 56050while resistance is placed at 5750 and 5790.

Regarding sector specific approach, we are bullish of BSE-Metals and BSE-Capital Goods while BSE-FMCG and BSE-Health Care will under perform the broader indices.


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