I had writen last week that crossing 4865 nifty will cross the previous high. It looks all set to do so.
This week 5051 will be the key level to watch out.
Crossing and trading above this level with volumes, nifty looks all set to reach 5170, the first and
obvious target of the up move from 4531. Above 5170 the next targets are 5230 and 5290.
4900 remains the level to watch out for on the down side. Breaking and trading below this level
with volumes, bears can push the index down to 4800, 4740, 4650 levels.
Axis bank looks the most interesting stock on weekly chart.
Look out for axis bank in stock market today write up.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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