Bharti weekly chart
Bharti has breached two important supports on weekly basis. It has breached trend line support (market in red) and it has also breached support at Rs.283. Now it is likely to test previous low.
Bank Nifty
Bank Nifty is facing stiff resistance around 11600. As long as it is below this level we cannot expect sustainable rally. We have continued to hold short in Bank Nifty.
Commodity update
Among base metals Zinc has started uptrend. Stop loss is closing below Rs.101.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 26-02-13 |
| Initiated at | 5761 |
| Low since change | 5534 |
| Reversal if closes above | 5780 |
Thought for the day
Who makes us
ignorant? We ourselves. We put our hands over our eyes
and weep that it is dark.- Swami Vivekananda
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