Tuesday, March 13, 2012

Nifty Technical Analysis 14th March 2012

Buy IFGL Refractors with targets of Rs.43.80 and Rs.45 maintaining a Strict Stop loss of Rs.38. Current Market price is Rs.40.40.

Buy ATN International Only above Rs.1.06 with targets of Rs.1.40 Stop loss can be adjusted in between Rs.0.70 to Rs.0.80

Buy JPpower only once crosses above RS.44.6 or SELL if remains BELOW RS.44.6
Rs.44.6 is strong Pivot level

Sell Wipro with targets of Rs.420 and Rs.399.

Our Recommendation on the Nifty is to hold long positions as long as 5420 holds with next targets of +20 points ahead of today's closing price. However Nifty has strong resistance level at 5520, which once broken will lead towards 5600.
If 5520 is not broken we would have to wait for budget day for a turn around or a bounce back up . therefore watch 5520 levels !

Good luck trading ,

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