CRAME NOTE ON INDEX PERFORMANCE - May 12, 2020

NIFTY- Price Action during the day and View for next trading Sessions

The price action in the last hour in the index shows signs for an up move towards 9700 levels in the next couple of trading sessions. Despite Reliance Industries dragging its feet, on account of possible profit booking before Rights Issue, the index firmly covered the initial selling that happened in the first half of today's trading session.


With the Economic Stimulus Package being announced, there can be positive sentiments as well which can take the index to the targets mentioned in the chart. Long positions in the index need to have stop loss below 9090.


DISCLAIMER
The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.


Analysts
Prof. Binu  P Paul PhD
Prof. Soumya V ACSI

Comments

Popular posts from this blog

WHAT'S IT LIKE TO LIVE IN THE HOSTELS OF CHRIST LAVASA?

PANEL DISCUSSION ON LEADERSHIP & ENTREPRENEURSHIP DEVELOPMENT SKILLS

INTERNATIONAL CONFERENCE ON DATA SCIENCE, COMPUTATION AND SECURITY - IDSCS’22