Crucial support for the Nifty is at 5690-5640: Gaba

Source : SIFY
Last Updated: Fri, Nov 09, 2012 05:17 hrs

Nifty (5739) : we said 'so far no sign of weakness but a reaction is not ruled out and so I would be ready to short the market if I get an opportunity' the market reacted as expected and opened with a bear gap right on our support like a dot and traded up and in the process taking away the opportunity to short the market and closing marginally in the red.... technically the uptrend has still not been compromised and the target of 5805 is still valid with strong support at 5690....

The crucial support for the Nifty is at 5690-5640 and the resistance is at 5780-5805

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


More from Sify: