Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Positve movement in Nifty may be shortlived

33 sec read

 
Nifty CMP : 4918
 

Yesterday market showed  a strengh coming back to the market. Yen also bouced back from 103.20 to 104.70/dollar after strong housing data and Durable goods datafrom US.


 

But this positve movement in nifty may be shortlived as Market is making lower tops and lower bottoms.As for the market sentiment prevailing now anywhere between 4990-5025 remains Nifty's maximum upside. Breakout above is a Clear bull Signal. Yen also currently facing resistance at 105.26 any break out above may initiate fresh FII Investment in emerging markets like India.
 
As Nifty is under Expiry and a weaker Inflation data may make the current Nifty sentiment weaker. Also nifty will follow the downtrend if Nifty is unable to break out above 5000 levels
 
Tata Steel, Divis Labaratories, Tata Motors stocks shows strength and remains a valuable pick now for medium term gains.

Regards,
Rajandran R
Author -Marketcalls

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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