FREE STOCK MARKET TIPS
BUY TCS @ 1134 TGT-1150 & 1180 SL – 1120
BUY NIFTY @ CMP TGT 5230 & 5315 SL 5057
NIFTY MARKET FORECAST FOR THIS WEEK (17-Oct-2011)
Nifty in the last week has filled the two gaps and we expect that in the forthcoming week another gap of 5230-5330 my get filled. The weekly oscillator, which was earlier exhibiting negative cross over, is now on the verge of turning positive. Momentum oscillators and Daily exponential moving averages also give some strength to our expectations. Engulfing bull on the daily chart and bull counter on the weekly harts also indicates the strength. 200 DEMA is currently placed at 5365 and the gap is placed between 5230-5330. Looking at the momentum oscillators and daily exponential moving averages, momentum looks strong and nifty is headed towards 5330 for filling the gap left unfilled. Also double bottom formation has been witnessed which gets confirmed once 5170 is pierced on upside.
Nifty level for this week
Resistance 1-5163
Resistance 2-5193
Support 1-5078
Support 2-5024
