Nifty For Monday
Nifty future as mentioned earlier resulted in sell off as it continued to stay below 6200-6180 level in the last trading session. Now on the downside next support is at 6095/6045/5980 levels and on the upside resistance is at 6180 and 6220 levels. Nifty future in the last trading session has closed again below the 6160 levels and looks some more selling is due in markets in the coming week.
Bank nifty future as foretold in our previous reports, below 12625-12600 resulted in a good sell off and touched low of 12465.50 in the last trading session, now on the downside next logical support are 12400-12180 levels and on the upside resistance is at 12650 and 12750 levels. Selling on higher levels will still be good strategy in bank nifty future in next week also with strict stop loss of 12650.
RCOM (Reliance Communication)
RCOM in its daily charts has been in the consolidation zone. The stock has given good breakouts of the 177-180 levels. If the stock continues to manage it’s this range is likely to head upwards towards its 197/203 levels in short term whereas strong support for the stock is seen at 169 levels.
MPHASIS
Mphasis is looking good in the charts and is ready to break its resistance level of 668. If it sustains above 668 levels, we can see next level of 690-700. All the technical indicator show buying interest in this stock. One can take buying position above 668 with s/l of 650 and target should be 690-700.
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RCOM (Reliance Communication)
RCOM in its daily charts has been in the consolidation zone. The stock has given good breakouts of the 177-180 levels. If the stock continues to manage it’s this range is likely to head upwards towards its 197/203 levels in short term whereas strong support for the stock is seen at 169 levels.
MPHASIS
Mphasis is looking good in the charts and is ready to break its resistance level of 668. If it sustains above 668 levels, we can see next level of 690-700. All the technical indicator show buying interest in this stock. One can take buying position above 668 with s/l of 650 and target should be 690-700.
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