CNX Nifty (6,056.15): The market sentiment remained bearish during the week gone. There was, however, some relief on Thursday when the index closed in the green after seven consecutive days of weakness. The short-term outlook is positive and the index could see a recovery to 6,220-6,250 range. The recent fall has pushed the Nifty to an oversold level, strengthening the case for a rally. The chances however of an immediate rally to new life-time high appear slim as the index has a strong resistance to contend at 6,275-6,330. Long positions may be considered with a stop loss @5957 for a target of 6,220 for the coming week.
(Note: All the levels are of Nifty spot.)
(Note: All the levels are of Nifty spot.)
“Don't be satisfied with
stories, how things have gone with others. Unfold your own myth.”
~Rumi
