Nifty may open with a gap today, as a reaction to major results announced during weekend.
Possibility of profit booking can not be ruled out after a positive opening.
Keep an eye on 12450-12470 levels, if exceeded 12573 can be seen.
On the down side, 12319 and 12285 are the major support zones. Sustaining above 12285 is important for long side trades.
RSI divergence is visible on RSI, thought the market has been ignoring this divergence for some time, but that does not mean it will be ignored always.
I have been saying it for past few days, Individual stocks from sectors that have not participated in the rally yet, and midcaps are offering better opportunities, Nifty is going through consolidation, Banks are dragging it down, while FMCG, PHARMA, metal, cement etc. are supporting or compensating for losses.
Look at my other posts for some individual high momentum stocks from performing sectors.
Either of my posts do not encourage speculative stock market trading, carry due diligence and consult your financial consultant while taking any positions. Use this post as a reference point or research / education material.
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Trade closed: stop reached