AlRoyRaj,
Your view by any chance based on Dow cow moving up with vengeance... considering TR posted the query yesterday....
SavantGarde
No. Just that on the EOD charts it seems that IFCI has fallen to the 20 DMA at 64.36 (close at 64.3) . Already a double bottom has occurred in the recent past so I should think that a major fall is unlikely. Based on price action I would 63 would attract some buying, 65 has anyways been breached. Just saw the weekly charts looks grim based on some prelim readings of Saint from eons past.
67.58 weeklyma seems like a resistance.
Vijaya Bank seems to fall between the 20 WeeklyMA at 97.68 and 50 WeeklyMA at 94.83 with a close at 96.55.
Nifty has been falling with higher volumes on EOD charts.
Ps With such amount of info I think global cues are over rated at this point.
Note:All figures above in spot.
I noticed that Nifty did not have much buying towards close.So some minor weak opening expected. Expect it to fall to 6033 20 DMA on spot and then bounce strongly.Alternatively the supports are at 6080 where I last checked nifty jan is trading so it may take off tomorrow though doubt it less buying seen in my reading of market profile.
Banks are considerably weak could drag Banknifty down to 10850 leves but no correlation with that i guess.