Nifty Future Technical Outlook

In This Week Nifty Has Broken Its Crucial Resistance Of 5180 And Also Made Closing Above It With Good Volume, If We See Nifty Technically We Could Expect The Target Of 5270 In Short Term. Now One Thing Which We Had Observed In The Market That At Every Higher Level Profit Booking Took Place, So It Could Happen This Time As Well.
Major Support: 5085 & 5005.
Major Resistance: 5270 & 5470.
In Nifty Technical Indicators Also Suggesting The Positive Strength And Also The Overall Factors Of The Market Indicating That Nifty Could Make Some More Upside From Here And Could Hit The Target Of 5300 In This Week.
What Traders Should Do In This Week?
As We Already Know That Long Term Trend Of Nifty Is Bullish And Nifty Close Above Vital Resistance Of 5180, Now Traders Can Go For Long In Nifty At Every Decline.
Traders Also Should Book The Profit At Higher Level Whenever They Get The Chance & Again At The Decline They Could Take Long Position It.
Means They Should Keep In Mind The Crucial Support & Resistance Level Of The Market.
In This There Is Also The Expiry Of F&O, So Market Could Be More Volatile, So Traders Also Should Be Cautious About Overall Market Condition And According To That They Should Trade In The Market.


Stock to Watch for Next Week.


Hindustan Construction Company

Explanation: Technically It Had Made Very Good Short Term Break Out At 145 Levels And Also Close Above 150 Which Clearly Indicating That It In This Week It Could Give Some Upside Move. So One Could Take Long Position in It,

Targets:

Short Term Target Is Around 163 And If It Close Above 165 Could Hit The Target Of 182.With The Stop Loss Of 142 In It.
Major Support In It Is Around 134 Level.

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