The Nifty outlook for 25th September
Many analysts have
advised profit booking because of the current valuations. Today the nifty did
not make any move corresponding to the previous trading session. Any way it has
closed above the pivot point. It did not make significant lows. As I wrote in
my earlier post, the overall trend is very much intact. Some minor corrections
may come in especially when the Nifty sees new highs.
The new pivot level is
centered around 5681. From this point the Nifty could see levels of 5708, 5721
and 5734. The Nifty could see resistance at 5746, because selling pressure that
might set in.
As I write this the
Nikkei and Seoul have opened in the red. The Dow has not made any significant
move yesterday. On the lower side 5658,
5645 and 5633 are also a possibility.
Happy trading!
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