The UPA victory changed the phase of the markets and it also changed peoples conception towards markets.
Turnover has increased in the markets.
FII’s have turned net buyers over a period of time.
NIFTY Looks over brought. But the trend remains positive.
Last week we saw NIFTY zooming up.
Last week NIFTY closed at 4238 and this week at 4448.85 a major gain again.
FII’s participation was excellent.
NIFTY TRIN at 0.24
NIFTY Range – Between 4210 to 4645
Current Spot – 4448.85
Support – 4340 and 4210
Resistance – 4575 and 4635
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)
NIFTY Targets on the upside for short term – 4525 and 4670
Chart :
NIFTY Chart in the month of May basically indicates uptrend.
NIFTY Auto generated Technical analysis.