NIFTY AND STOCK VIEW BY USING POINT AND FIGURE

DATE- 6 MARCH 2014

Nifty 10X3 CL P&F CHART

Strategy for 6 MARCH  2014: Nifty Major trend is up because its trading above major and intermediate 45 degree trend line . From 3 February nifty has given nice move of almost 400 point . At this stage nifty is in oversold zone  so  any time we can see  correction of 100-150 point . From here any double bottom sell signal can be an opportunity for fresh sell,  But if nifty tomorrow will break and sustain above 6350 then one can buy nifty above 6360 sl 6270  tgt 6440,6550.  Tomorrow major resistence is 6360,  6400 and support is 6290,  6260 so do trade accordingly ,

CIPLA –Medium termPick

è        CIPLA HAS TAKEN SUPPORT AT RETARCEMENT OF 78.60% AND TRADING ABOVE ANCHOR POINT AFTER THAT IT HAS GIVEN DOUBLE TOP BUY SIGNAL.

è       BUY AND HOLD CIPLA BETWEEN 383-385 SL 375 TGT 400,415

                                                         

       RAJU RANJAN

Mob- 9975606284