MUMBAI, Sep 01 Nifty trading benchmark indices rose for the second consecutive day, riding on stronger-than-expected growth data and gains in some overseas markets.
The S&P CNX Nifty regained its psychological 5,000 level while the BSE Sensex jumped 260.42 points, or 1.59%, to end at 16,676.74. The Sensex, which had touched an 18-month low of 15,848.83 on August 26, 2011, falling over 16% in a little over one month, has jumped 828 points, or 5%, in two trading sessions. The benchmark index had hit a recent high of 18,871.29 on July 25, 2011.
Equity strategists maintain that growth has cooled in other Asian nations like Taiwan, South Korea and Malaysia in the wake of sluggish US recovery and Europe’s debt crisis, which have hit demand for the region’s exports.
Pl check the url below on the series of weekly post on this Nifty trading Tips
Technical Vew point Begining last week, we have made things simpler for readers, we have incorporated a indicator overlaid in prices which gives the common investor the over all trend of the commodity/Indices/currency pair at a glance. As we see in the Nifty 4 Hourly price chart – Nifty is trading higher and is above the trend indicator ( in yellow) – a bullish indication.
Along with we have given the Cycle strenght indicator for Nifty – and the way to interpret is as long as the indicator vlaues is above 50% – a bullish ( strength) signal and below 50% reading indicated a bearish (weakness) signal.
As we see Nifty is showing strength at a positive 18% reading. The reading should improve on the back of Nifty continues to raise.
Do keep coming as we will start posting as we see trend reversals. Do click the url to find out the previous and latest post on Nifty trading Tips
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