Crucial support for the Nifty is at 5980-5940: Gaba

Last Updated: Thu, Jan 03, 2013 03:44 hrs

Nifty (5993) we said ‘technically the market has given a breakout from a good consolidation against a stiff psychological resistance of 6000…strong support 5940’ the market unfolded as expected and has seen a high at 6006 right on our resistance…technically the market is still up but the bar seems more like an exhaustion bar and so a reaction is not ruled out…

The crucial support for the Nifty is at 5980-5940 and the resistance is at 6100

Prakash Gaba is a professional technical analyst and a trader based in Mumbai and runs his own consultancy.

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