GEPL Technical view on Nifty – 23rd March 2011 (video)


•Nifty Futures closed at 5438 which is 58 pts higher from its previous close of 5380.
•Last 13 days it is consolidating for 200 pts between 5350 and 5550
•Now the important level to watch is 5350 for breakdown and 5550 for breakout of current pattern.
•If it breaches 5350 next level to watch will be 5250 and below that 5175.
•No fresh trading positions are recommended till breakout or breakdown is seen.
•Zone of 5450 – 5500 will provide strong resistance in intraday.
•Stock specific we are recommending Educomp to buy for one day in futures at 417 with at s/l of 402 and target of 430
•Educomp has made double bottom at 402.
•Its short term RSI is turning upwards and volumes are also supporting current upmove.

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