GEPL Technical view – 18th April 2011

Nifty Futures opened well above 5900 but below expected Infosys results dampen the sentiments forcing Nifty Futures to test the crucial support of 5820 in intraday. Now, the important level to watch is 5800 below which slide may be seen till 5700 levels. To regain the momentum, Nifty Futures needs to surpass 5880 levels on closing basis. The important timing cycle turning day is placed on 19th Apr where the direction of the trend will be clear on the chart.

Despite the fall in the market, the 2-wheeler stocks from the auto sector performed well and the stocks like Bajaj Auto, TVS motors are likely to continue upward momentum.


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