Close Encounters again.
- In the weekly chart shown, NIFTY is still oscillating between TT and BT.
- Point No 6, at TT is too close to the current value of NIFTY.
- Anything can happen from “6”
- A breakout from this range can take NIFTY above all time high.
- A drop can take NIFTY to much lower levels.
- Referring to the report last week, it is still facing resistance at 5416-5465. the next week’s action will most probably decide the next direction
- NIFTY signals of www.ftalarms.com are in Bullish mode.
Stocks to watch for upside
- Ambuja Cement.
- Balakrishna Industries.
Stocks to watch for downside.
- Neyveli Lignite
- Praj Industries.
