US markets closed marginally higher with lacklustre activity.Asian markets too are trading mixed.Nifty opened flat presently trading at 5106.Watch for the level of 5092.Any close below that level then the uptrend could end.Have a stop loss of 5122 for all short positions.There has to be 2 consecative closes below that level for confirmed downtrend.Tommorrow IIP data will be released, as of now there isnt much euphoria,but numbers are expected to be good.Monday advance tax figures will give a rough idea about the upcoming results.So activity should pick up from tommorrow with the events to follow.
No comments:
Post a Comment