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Support for Nifty is at 6000-5980: Gaba

Source : SIFY
Last Updated: Fri, May 10, 2013 03:10 hrs

Nifty (6050): we said “technically the market trend is still up but the bar generated for the day is an indecisive bar which is capable of turning the market around after a prolonged up move and against the psychological 6100 mark and after touching the psychological 20000 mark…I would now say that hold long as long as 6020 holds…incidentally our resistance of 6080 has been hit like a dot” the market unfolded as expected and tuned around to close in the red but incidentally the turnaround is still not complete as sometimes it takes to turn…I would say time to book profits and it does not hurt...

The support for Nifty is at 6000-5980 and the resistance to the up move at 6100-6010

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


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