All those who believe in Indian stock market need to cheer as the long term story of Indian market is intact and we are in a long term bullish up move. As you can see that S&P CNX Nifty shows a strong development within a rising trend channel and same is marked on the given chart below. Moreover index has broken a resistance level and has given a fresh positive signal for the long-term trading range.
It is worthwhile to mention here that index is testing the resistance at points 6100 and a break above this level with volumes means that we may achieve all time highs. However non breaking the level of 6100 means that we may see a short term negative reaction in the market. Technically RSI is overbought and this can be a negative indicator for the stock and thus we can keep our fingers crossed to see that RSI starts decreasing. Nonetheless Nifty is up till the time the level of 6020 is held.
Make use of the available opportunity and trade intraday with the sure tip of the day and make money like professionals as aim is to capture the opportunity at the right moment to get the juice out of it.
Nifty Support & Resistance
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Weak future stocks at NSE
Opto Circuits, Jub Food, Chambal Fert, ALBK, Jindal Steel, Hexaware, GSPL, Coal India, IVRCL Infra & Mcleodruss.