Nifty Update

8 days of Straight UPmove !!!

Nifty has rallied relentlessly from the level of 5250 (the day it made the Flash Low of 5195) to 5650. A vertical rise of 400 points. Markets are now in the overbought region and may find resistance at the 5700 mark as shown in the chart. Profit booking at these levels is advisable and would be the prudent thing to do or one may trail their sl to 5590. The solid support for nifty stands at 5400.

The shift in trend and momentum has taken place as had been mentioned previously. Those holding longs can book their handsome profits and re-enter at lower levels.
Our positional target of 5900+ remains !!!