Market Trend 05-05-2014 …

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CNX Nifty – CMP 6695

Synopsis

• On Friday, Nifty opened on a positive note & traded throughout the day with a negative bias & closed 0.1% in the red.
• Till Index holds 6670, it will move upto 6780-6810.
• If breaks & sustains below 6670, can fall upto 6580 zone.
• Daily momentum is turning into negative from overbought zone while weekly is still in positive territory indicating Index to trade in a broad range of 6670-6770.

Till Index holds 6670, it will move upto 6780-6810. If breaks & sustains below 6670 , can fall upto 6600 zone

Bank Nifty – CMP – 12842

Synopsis

• On Friday, Bank Nifty opened on a positive note & traded rangebound throughout the day with a negative bias & closed 0.2% in the red.
• Till Index holds 12,750, it will move upto 13,050-13,100.
• If breaks & sustains below 12,750, can fall upto 12,500 zone.
• Daily momentum is turning into negative from overbought zone while weekly is still in positive territory indicating Index to trade in a broad range of 12,750-13,050

Till Index holds 12,750, it will move upto 13,000-13,050. If breaks & sustains below 12750 , can fall upto 12,500 zone

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