Tuesday, March 04, 2014

Crossed 6265. Next Resistance 6304 & 6330

Dear All,

Market rose sharply after Media reports said Tuesday that Russian troops sent on surprise military exercises that began last Wednesday, some of which are near the border of Ukraine, have been ordered to return to their bases by March 7. International observers had become nervous over the exercises in central and western Russia.

Markets will be watching closely for comments from Putin, and media reports say the Russian president will hold a press conference early Tuesday.


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Nifty crossed 6265, filled gap and moving up. Now if the trend line resistance @ 6304 get crossed then may try to fill the gap left on the upperside 6330-40. Above 6340 bulls may take full control. Else if the resistance line unable to cross, may fall again.

>>> Bank Nifty <<<

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Bank Nifty on gap filling process from 10750 to 10970. Still inside the wedge. If unable to cross 10970 may give next shorting opportunity. Lets See.