Fw: Equity Eagle Eye: Holding on to 6K

 

 

Equity Eagle Eye [For July 16, 2013] Sharekhan www.sharekhan.com

Summary of Contents   PUNTERS CALL Holding on to 6K The Nifty closed in the positive today, up 21 points at 6030. Over the next couple of days it is expected to head higher till 6060. In this period the key support will be at 5977 and resistance will be at 6060. Other technical observations On the daily chart the index is trading above the 20-daily moving average (DMA) and the 40-DMA, ie 5798 and 5859 respectively. The momentum indicator is trading in positive mode. On the hourly chart, the Nifty is trading above the 20-hourly moving average (HMA) and the 40-HMA, ie 5977 and 5932 respectively, which are crucial intra-day levels. The hourly momentum indicators have turned negative. The market breadth was positive today with 701 advances and 469 declines on the National Stock Exchange.  SMART CHART CALLS   MOMENTUM CALLS     DAY TRADERS HIT LIST   Click here to read report: EagleEye