equityresearch
Equity Research
The momentum continues to hold and Nifty is strong placed above the 5,000 mark. Markets are into a new zone but are currently at a high risky-zone from where a technical pause can be seen. The oscillators on the daily RSI is at 73 which are indicating an overbought signal.
We are nearing the Sept expiry and the market trend will be on the positive bias depending upon how the global markets perform. The trading range could be 4,750-5,100 and strong support at 4,930, if nifty trades below 4,930 then expect weakness entering into the system. Our sense is that around 5060-5110/17000-17150 market participant should liquidate and wait for the correction to re-enter.
http://nirmalbang.com/Upload/Morning_Call_230909.pdf
We are nearing the Sept expiry and the market trend will be on the positive bias depending upon how the global markets perform. The trading range could be 4,750-5,100 and strong support at 4,930, if nifty trades below 4,930 then expect weakness entering into the system. Our sense is that around 5060-5110/17000-17150 market participant should liquidate and wait for the correction to re-enter.
http://nirmalbang.com/Upload/Morning_Call_230909.pdf