Nifty Weekly Chart
As expected nifty has reached 5200 today.Even though Nifty made a low of 5117 bulls are able to defend the previous bottom 5200 and our dear fundametalists are busy in talking about INDIA GROWTH STORY
Now the question is WHAT NEXT?
Nifty is above 5200 that doesn't mean that market has reached the bottom. You can see in the chart that stochatics is indicating a downward trend so there could be some more fall?!.
I am not asking you to take short position in nifty but wait for some time before taking any positions in Nifty.
LIC HOUSING FINANCE
Weekly Chart
A technical tool which is called as parabolic stop and reversal shows that so far LIC Hsg Fin was in uptrend. However in this week the uptrend seems to be over atleast for short term. MACD has shown sell signal. So sell LIC Hsg Fin below Rs.200 for a target of Rs.190-Rs.185 . Stoploss will be updated in the later stages.
Bharti
Bharti Daily Chart
So far Bharti was in perfect uptrend. Parabolic SAR and MACD on daily chart shows downtrend. Sell Bharti at CMP for a target of Rs.405-390-390 stoploss will be updated.
Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.
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