IMPORTANT SIGNALS

As per our earlier given levels for the week, some important signals have emerged as follows:-

SBI is near its main trend deciding level 1600. Once closing well above this would turn its outlook positive and open up higher targets as given in tradingthisweek.

INFOSYS, similarly is below its crucial level 1700. Closing above this would be ideal for longs with stop loss.
These two closings, if happened as per our wish, would be very positive signal for the markets as a whole.
(After crossing of resistances these same resistances become immediate supports and a stop loss little below this should then be placed definitely for your longs).

RELIANCE however, has yet to go towards our weekly projected targets of 2450-2480. It is still around 2276. But keeping in mind the present momentum, it seems that it would also move up to that level soon. But, on the charts, it has too many difficulties beyond that. Therefore, it is yet to be seen whether it moves past 2500 or not in this rally!! If it does then bears would have to retreat from the markets. If it doesn't then markets also would remain range bound after that.

NIFTY has a resistance at 4560 also. A close above that would target 4780 in days to come.

For more details we recommend reading of all our relevant pages published for this week. Links to these pages are on right hand side column on every page.


Keep watching!