Nifty
Nifty , after reaching previous peak at 6100 , has lead to a major fall. In above chart you can see that it has closed around 5970 a level which has acted as resistance. 5970 is the last support for Nifty. If Nifty closes below this level then major fall can be expected. Trend indicators in daily chart have indicated down trend . Reversal of the down trend will be closing above 6100.
LT
LT had support at Rs.1535 and in today's trading session this support is breached. As per trend indicators medium term down trend has just started and trend is likely to remain down as long as it is below Rs.1565.
Bharti
Bharti was unable to break resistance at Rs.330. Now it is expected to reach Rs.280 in medium term.
Nifty medium term trend
| Trend | UP |
| Initiation Date | 18-04-13 |
| Initiated at | 5783 |
| High since change | 6114 |
| Reversal if closes below | 5870 |
Thought for the day
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