Nifty goes up, then down

The strong upmove we saw in the Nifty did have the trappings on a trend day, but the similarity ended at the end of the first hour.

Subsequent failure to go past the IB high meant that the range breakout of 6160 would be tested again- a test which eventually failed.



Value was established higher though and may mean a revisit to the 6180 zone soon.

6124 and 6096 are strong supports and 6222 would be the target above 6180.



The Bank Nifty has got good supports at 12410 and 12310.

The target for the upmove would be 12690 and 12780.

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P.S : Shai's just informed me that the Saturday Webinar is almost 70 % booked.I stress again that we have limited seats and may not be able to entertain late requests.