Wednesday, October 9, 2013

#178 Nifty Update: Super Bullish confirmation achieved!!!

Our 1st tgt 5988 on Nifty has been achieved as we stated in our #175 Nifty update. Today we saw a weak opening but markets rebounded strongly on Trade deficit numbers which came at 2 years low. Technically nifty took support at a moving average. But close has given a more useful bull sign as per candlestick i.e., A bullish engulfing. Though it is more significant at the lows of chart but we cant ignore today's pattern. We could consider it as a continuation pattern of the current bull trend. Indicators are still expecting some upmove. We are intact with our next to targets 6090/6150 with a trail SL of 5900 (closing basis)

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