GEPL Technical view on Nifty – 11th February 2011 (video)


•Nifty Futures closed at 5230 which is 31 points lower than its previous close of 5261.
•For second consecutive day it closed below 5300 indicating continued selling pressure in the market.
•The current downtrend may continue if it breaches support level of 5200 where the next level to watch will be 5150.
•Nifty needs to show a strong uptrend for positive weekly close above the previous weekly close of 5387.
•The weekly close below 5300 will confirm the intermediate trend reversal.
•The stop loss for existing short positions is still maintained at 5390.
•Stock specific we are recommending DLF Futures to buy for one day at 241.50 with a s/l of 231.50 and target of 251.50


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