Technical Views - Equities 3rd June 2011
NIFTY
TREND : Neither the shorts nor the longs generated any reasonable profits. Nifty consolidated itself in a 30 point range. For today longs can be taken above 5577 and shorts below 5541. Though the major supports still exists at 5520 and 5610.
SIGNAL : Use buy and sell signals of TDI - BS on the breach of 5541 - 5577 range.
BankNifty
TREND : On a day of consolidation even swing moves do not generate reasonable profits. We can look to sell with a SL of 10865. and go long only if 10900 is breached.
SIGNAL : Use buy and sell signals of TDI - BS for the day
CNXIT
TREND : I am planning to drop CNXIT from my list as there are no major moves we can benefit from. So suggest me an index, a FO scrip which i should add to my daily blog
SIGNAL: avoid signals
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