Nifty has finally crossed its major resistance level of 5400 levels. This week Nifty closed at its 30 month high. Nifty in the past faced major resistance at 5400 levels and corrected heavily. But this time as mentioned in my last article also that the Nifty will cross the mark and move further.
FII buying in the last week helped the Indian markets gain and cross above at 30 month high. Sensex closed above 18000 levels and Nifty above 5400 levels. But the markets closed flat on the last day of the week in expectation that 10 out of 91 banks subjected to
Goldman said 9% of respondents expected a capital hike of less than 10 billion euros, 33% expect a hike of 10 to 25 billion euros, 35% expect a hike of 25 to 50 billion euros, 18% expect a capital increase of 50 to 100 billion euros and 5% expect a hike of more than 100 billion euros. Banks domiciled in
More than 60% of the respondents believed the amount of capital raised would leave banks adequately capitalised, while the rest saw a capital deficit remaining. However, opinions were split on the performance of the sector in the three months following the test, with 38% expecting outperformance, 26% underperformance and 36% in-line performance, it said.
Nifty for the week closed at 5449 and Sensex at 18131. Nifty on the last day of the week closed marginally above with a gain of 7 points after making a high of 5477.50 and a low of 5435.15. Nifty in the daily chart has made a small hammer like pattern. Bears will surely try to short the market once again in expectation of some correction in the coming week. But as the Nifty has crossed the 5400 after a long time, so the Bulls will surely try to support the markets and as such there are no negative signal in the Indian markets. Nifty could go upto 5600 levels.
Last Weeks Call:-
Buy united Spirits above
Sell ACL with SL of 110. made a low of 107 and Sl triggered
Buy BOB with SL of 717.5 made a hig of 742.
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