Stock Market Technical Analyst

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Daily Technical 21.04.14


Nifty opened on a positive note and jumped above 6700 mark in early trade. It started making higher tops and higher bottoms on the intraday chart and made a high of 6783, finally it ended at 6779 with a gain of 1.56%. The Advance Decline ratio was 2:1.

On Friday, Nifty witnessed good buying interest at lower levels and broke the neckline of Inverse Head and Shoulder pattern on the intraday chart. We maintain bullish view on Nifty with  our short term target of 6950. On the downside, 6650 remains an important support for short term.

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