Buy GITANJALI(Monday) ABOVE 169.90 stop loss 168.35 target 171.75 - 174.35
The NSE Nifty is expected to open in a constricted range. Today the trading range is seen between the Critical Support level at 5389 and the first Resistance at 5436. We may look for some positive global triggers to move out of this range. A break above may lead towards the higher Resistance at 5463. However if Nifty looses the Critical Support ,we may see some position unwinding which may push the index towards the Major Support at 5352. Below this level the Support comes at 5332.
Nifty WITNESSED THE OVERVALL VOLATILE SESSION AFTER THE FLAT OPENING IN THE MORNING. OVERALL IT IS HOLDING THE HIGHER LEVELS & MAINTAINING THE SHORT TERM SUPPORT OF 5350 TO 5355. CLOSING BELOW THIS SUPPORT ZONE MAY DRAG IT TILL THE LOWER LEVELS OF 5290 TO 5300 IN NEAR TERM. WE STILL RECOMMENDED THAT TRADERS MAY GO FOR LONG IN NIFTY FUTURE WITH THE SL AROUND 5345 FOR THE TARGETS OF 5450, 5500 IN NEAR TERM.
