Nifty Analysis for 3rd april 2014

Nifty Analysis for 3rd april 2014

Nifty has broken a long standing trend line resistance this week at 6702. It's been trading above that line since then. It's a sign of long term bull trend. The short term trend line resistance has started from 6355 and the nifty is moving up respecting the trend line. Once it breaks this line we can expect a sharp upside movement from there. Short term investors can trade long keeping a stop loss at 6662. All other momentum oscillators are showing overbought condition for now. But the liquidity driven by hope for positive election results is driving the markets up. So be careful while going long. Trade with strict stop loss.