Nifty Road Map 14/07/2011

Nifty Future chart July Series :

Nifty Mp7 Nifty Road Map 14/07/2011

Perspective : A news dominated trading environment continues, with the latest news coming out of the Mumbai terror blasts bound to affect the opening prints. Yesterday’s China data was the talking point for the news channels, after Italy’s debt problems the day before.Overall a difficult terrain to trade, sentiment wise.

Back Ground : We spoke about a positive movement above 5564 and a gap fill in yesterday’s post. The index stayed above 5564 all day and even a late afternoon sell-off was met by aggressive buying at 5564 which took the market to day highs and closed the gap.

Chart Speak :

– A spike into the close at 5610 which was gap fill and day/ spike high
– In a spike acceptance above spike high is bullish
– buying prints from 5550-5560 are support for today’s market.
– above 5621, 5645 and 5668 can be done.

The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, TTM, SBIN everyday on our premium website