Nifty Technicals and Punj Lloyd

Hi All Readers,
 
http://www.brameshtechanalysis.com/  is having some technical difficulties and i am trying hard to get them resolved. Till the issues gets resolved i will use the Blog to write my posts.  I am sorry for the inconviences caused to you. 

Nifty Hourly Chart

Nifty hourly charts is showing support at today's low of 5467 which if broken we can easily slide to 20 DMA@5445 levels.

If 5445 is not sustained than we should get ready for a fall till 5409 if thats take out we can see an impulsive slide till 5200 levels. 

On upside we face resistance @ 5516,5531 and 5555. If 5555 gets crossed than we can see retest of 5608 and 5640 200 DMA

All mentioned levels are Nifty Spot levels.


Punj Lloyd

 

Punj is moving with a rising trend lines on hourly charts with a resistance at 65 levels.Once  it move above it next resistance @ 67

On Daily charts Punj is forming higher highs and higher low formation with rising volume which is a bullish indication

Buy@65 TGt

65.55

66

67.4

68.23

Bramesh
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