Close Be­yond Cur­rent Range to Set the Trend

Lower range ex­pec­ta­tions for Nifty favour sell­ing stran­gles with an eye on 10,800 and 11,000 serv­ing as stop loss points, ac­cord­ing to tech­ni­cal an­a­lysts. They are pos­i­tive on stocks such as ITC, UPL, Bio­con, Amara Raja Bat­ter­ies and In­fosys, which have p

The Economic Times - - Finance & Commodities -

SAN­DEEP PORWAL

The tus­sle be­tween bulls and bears con­tin­ues. Nifty is trad­ing side­ways with an un­usual rise in the volatil­ity, keep­ing mar­ket par­tic­i­pants baf­fled about the trend di­rec­tion. De­spite the best ef­forts by the bulls, Nifty ended the week at 10,795, below its 100and 200-DMA placed at 10,856 and 10,803 re­spec­tively.

What is in store : Slug­gish mo­men­tum has be­come a point of worry, since time & again no ma­jor fol­low-up is seen. Price is os­cil­lat­ing with in a sym­met­ri­cal tri­an­gle (Daily Chart). ANAND JAMES

The ex­cru­ci­at­ingly tight range so far in Jan­uary se­ries has kept Nifty traders sti­fled. Es­pe­cially so, given the di­rec­tional moves seen dur­ing the last six months. With De­cem­ber elec­tions be­hind us, mar­kets are look­ing for­ward to fresh cues for build-up.

The on­set of the earn­ings sea­son need to been seen from this per­spec­tive.

What is in store: The re­cent con­sol­i­da­tion has drawn up a tri­an­gu­lar pat­tern in charts, hint­ing at con­tin­u­a­tion of the bullish move from the Oc­to­ber bot­tom. How­ever,

TECH­NI­CAL AN­A­LYST, ASHIKA STOCK BROKING CHIEF MAR­KET STRATE­GIST, GEOJIT FI­NAN­CIAL SER­VICES

Where we are:

Where we are:

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.