View on nifty for the first week April!!!

Nifty

Nifty seems like changing the trend...!
Support at 200 MA
Divergence in RSI.
Volume last thursday was high as compared to week...
looking at this few positive point Upside in nifty can be seen.

Further confirmation can be seen if MACD cross upside as well.

Other thing to be noticed in the chart is the current low of the week can be considered Wave b and and Wave c is on it way.

Support at 5611 and resistance at 5790-5910-5950-6110

Regards
Rinkesh Jain

This is my personal view... plz consult your advisor before Trading/Investing.

View on Nifty and few stocks!!

Nifty

Nifty closed positive as expected in my last week post  : View on Nifty
Nifty have closed above at the level of 5945 which was 61.8% retracement.
If market sustains above 5945 level then next tgt for nifty would be 6010-20 levels.
There was a lack of volume this week in market so sustenance of this rally is questionable.
Expecting side was movement this week.



Wipro

Wipro have reached at the resistance level of upper trendline.
Reversal can be expected from this upper level and downside can be seen in stock this week.
CMP : 445 Tgt 439-428-420.

Ambuja Cement

Looking negative with aascending trenldine broken.



NTPC

Looks Positive.
Taking support  at 78.6% retracement level.

View on Nifty!!!!

Nifty chart

Nifty have came down at 5668 ie 78.6 retracement level from Nov 2012 rally.
RSI and stochastic are in oversold which indicate change in trend.
MACD have crossed downside but if nifty sustain current level then signal line can crossover
If nifty fails to sustain 5668 then level of 5550 can be seen in coming days.
Excepting a positive start on monday morning and upside closing for the week..!


Regards
Rinkesh Jain