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GEPL Morning Note
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Your morning coffee with the market
outlook for the day, technical views,
commodity, debt update and more ..
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The fundamental team lives up to the GEPL tradition of client
wealth maximization. The team is uniquely working towards identifying the under
researched stocks and grow as they grow along at a rapid pace.
GEPL CAPITALTechstock, a weekly investment idea is one such
story other than the several reports released by the team. The
research team is constantly towards identifying profitable technical stock picks
for intraday and short term participation. They achieve well over industry
average call rates.
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GEPL Technical: Today Market View
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S & P CNX NIFTY
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Short Term View: The uptrend in Nifty continued and it surpassed 5100 mark by forming intraday high at 5149. Nearly after 3 months Nifty again approached 200 DMA and closing above 5140 will pave a road for it towards the positional target of 5250. On downside the intraday support is placed at 5060 and next support is placed near 5000 levels which is also a trend line support as shown in the chart. Buying positions can be initiated near 5060 with stop loss of 4990 and initial target of 5200. The trend of the Nifty Futures is likely to remain in upward direction till it trades above the reversal level of 4800. |
Positional View:Though, the bounce back was seen in Nifty from 4531, Nifty need to surpass 5275 level on positional basis to regain its strength. The breach of crucial support 4700 would trigger fresh sell off in Nifty and much more lower levels would be achieved. The important resistance zone is 4950 - 5000 from where Nifty is expected to turn again in the downward direction.
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