Short term Pullback may be in sight as divergence is being seen in Nifty and any down move is occurring at low volumes which may mean that Nifty has found a short term support at 4800. We need to get worried only once Nifty breaks the level of 4800 with volumes. The short term pull back can be expected as select momentum oscillators are in fairly oversold zones. MACD is sending signals that a pull back is in offing. Thus now is the right time to trade with Multibagger stock and make money like traders who have the genuine and reliable information before world gets to know about it. The market breadth in BSE ended neutral with 1,340 shares advancing and 1,368 shares declining which also shows that a short term pull back is in sight. Real bulls control will occur above 4950 level and bears gain control next week if Nifty do not hold 4800 level.
This is a short term likely pull back story whereas trend still remains negative. Thus as a strategy one can buy at lower levels and exit at higher levels as profit booking at 5000 mark is going to be a stiff resistance.
Support and Resistances for the Day
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Strong future shares at National stock exchange
Divis Lab, Colpal, BPCL, Asian Paint, Delta Corp, Dish TV, Video Ind, Max India, Mcleodruss & Bhushan Steel.
Weak future stocks at NSE
Orchid Chem, Sintex, IRB, GMR Infra, IVRCL Infra, Praj Ind, Pantaloon R, HDIL, Polaris & SRE Infra.
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