magnet calls for tuesday
we said support stands at 5074-5111, friday low was 5105 and nifty bounced back 150 points from there and today's low was bang 5072 and nifty bounced back almost 180 points from there.
mkt still in overbought position.
technical remains same.
expect continution of this rally upto 5400 buying is only allowed at support level
supprt list remains same 5074,4930,4663
break of 5074 will tgt 4930, break of 4900 will tgt 4663
overall in medium term we r heading towards 6300 as mentioned before also , so if nifty breaks 5074 and comes at 4663 buy equity with ur full money.
on upside res r 5320 and 5400, so right now one can buy nifty on any dip for the tgt of 5320 with the sl of 5074 and crossover of 5328 will tgt 5400.
at the level of 5403 one can short nifty with sl of 5408.
one can buy at the support level wth sl of 10 points for the tgt of 100 points+
warm regards
magnet man