Nifty
Nifty has closed marginally below previous low which was around 5670. So far Nifty was forming higher top and higher bottom. Now it has started to make lower top lower bottom which indicates down trend. As per fibonacci retracements next target could be 5570-5450.
Bank Nifty
Bank Nifty has breached trend line support . A major fall is expected and target could be 10900-10500.
Infy
As per trend indicator in daily chart Infy is in short term down trend. It has support at 2830. Once it breaks this support it can fall to 2735.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 26-02-13 |
| Initiated at | 5761 |
| Low since change | 5648 |
| Reversal if closes below | 5895 |
Thought for the day
Zindgi to apne damm par hi jiyi jati hey..dusro k kandhe par tohh shirf janaje uthaye jate hey -
Bhagath Singh
