Nifty Levels to trade on IIP day and Infy results

Today is crucial day for Nifty because we have 2 Important events lined up

1. Infosys Q2 Results to come at 9 AM

2. IIP data coming at 12 PM.

So lets see How Nifty Technically poised before this 2 major events..

Nifty Hourly

On Hourly chart Nifty is trading in a channel. Yesterday the much talked level of 5035 came with a gap up and Nifty broke above it with huge volume on back of short covering and made a high of 5444 in 15 mins of opening, but was unable to sustain above this level for less than an Hour so it cannot be termed as breakout and finally market broke in afternoon trade and close below 5000.Hourly Charts of Nifty are Overbought and a correction looks likely if any of the 2 events disappoint. Support on Hourly charts comes at ..

Read the Full Story

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Rgds,
Bramesh
09985711341

http://www.brameshtechanalysis.com/

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