At last GOI bite the hard bullet and gave a partial deregulation of
diesel which fueled rally in Oil and Gas Sectors where two heavy weight
Reliance and ONGC. RIl came up with a spectacular set of number and
closed almost 4% up in London exchange. As i always say price have
everything in it, RIL we discussed on
17 Jan Post saying above 870 Inverse HnS pattern will start showing its effect and mid term target of 1000.
Trends in motion will stay in motion, they will persist, until they reverse.
Lets discuss Nifty Trading Strategy for Next week.
Nifty Hourly Chart
Nifty
is trading comfortably above 50 SMA which lies at 6019. Negative
divergences have been observed in Hourly chart but we need price
confirmation till 6019 is not ..
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