NSE Nifty technical analysis and trading stratergy Part -I

Nifty and Sensex continued with there consolidation phase, positive takeaway from last week’s movement is that the Sensex is holding above 19,000 and the Nifty continues above 5,825 which gives bullish touch this phase of consolidation.  Another positive which can be taken from the last week trading activity is full subscription of  NMDC FPO with out much LIC help and full subscription of Bharti Infratel IPO.Not much satisfaction can be derived from the sharp increase in October industrial production numbers since it is mainly due to the low base last year. While consumer price inflation continued to be high, there was slight moderation in the Wholesale Price Inflation. Nifty F&O analysis is showing a bullish picture Lets discuss Nifty Trading Strategy for Next week.

 Nifty Hourly Chart

Nifty continues to trade below  the important ...

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