Will RBI meet can fix nifty direction?????
Monday, October 24, 2011
Nifty EOD Chart & Levels
Nifty is facing selling pressure near 5140 levels. If nifty trades above 5160 for 10min change your mind to do not short. If you have margin go long in nifty, It can touch 5225>>5250>>5275>>5325>>5340>>5420.
Tomorrow we have RBI meet and FII are data is positive in nifty futures but stocks they hold short. TCS and HCL and LT and some other IT stocks may see selling tomorrow. There are lot of factors we have to watch out
" Traders Think and Act Right " " Investors Stay invested but hold some money for next round of selling also"
1. Dow is nearing its strong resistance levels 11900 to 12000 that is 200 days EMA & SMA.
2. Gold is getting ready for huge round of sell off.
3. What is going on behind SBI and other PSU banks.
4. INFY is near to its strong resistance( 200D EMA 2726 - 200D SMA 2840) - Exit your hold in INFY don't wait for higher targets.
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