Market Trend 07-05-2014 …

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CNX Nifty – CMP 6715

Synopsis

• Yesterday, Nifty opened on a positive note & traded throughout the day with a choppy bias & closed mildly positive for the day.
• Till Index holds 6690, it will move upto 6780-6810.
• If breaks & sustains below 6690, 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 6690, it will move upto 6780-6810. If breaks & sustains below 6690 , can fall upto 6600 zone

Bank Nifty – CMP – 12996

Synopsis

• Yesterday, Bank Nifty opened on a positive note & traded rangebound throughout the day with a positive bias & closed 0.6% in the green.
• Till Index holds 12,810, it will move upto 13,150-13,200.
• If breaks & sustains below 12,810, 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 12,800-13,150

Till Index holds 12,810, it will move upto 13,100-13,050. If breaks & sustains below 12810 , can fall upto 12,500 zone .

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