Stock Market News

Nifty Outlook by Epic Research

NIfty marks a close above 11900 for third consecutive day but forms a pattern similar to shooting star indicating an exhaustion or reversal in follow up days.

Shooting star is a reversal pattern usually before a reversal in an established upward move. If not explicitly this pattern does indicate a halt to the existing momentum and a kind of exhaustion. Hence the relaibility comes after seeing confirmation in following trading days.

12000 – 12050 levels are very important as we are continously seeing selling pressure around that zone and Nifty failing to breach it. With Budget coming up, we believe there are chances of some decisive move. One should remain cautious and have conservative approach to market rather than being aggressive or carrying naked position.

12000 – 12050 levels are very important as we are continuously seeing selling pressure around that zone and Nifty failing to breach it. With Budget coming up, we believe there are chances of some decisive move. One should remain cautious and have conservative approach to market rather than being aggressive or carrying naked position.

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Epic Research
Epic Research
Epic Research - Investment Adviser is a leading financial services provider with presence in Indian and other global capital markets. Call on - 0731-664-2300
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