Nifty:
Nifty gave a good rally on friday and managed to recover the weekly loss on single day. Lets see bigger picture on weekly charts:
Long term trend still intact as nifty recovered just from the bottom of bigger trend-line with weekly doji candle. If Nifty is able to close above high of last week which is 7462 then a relief rally can continue at-least till higher end of smaller trend-line.
Similar correction was seen in 2012 and that time the rally was with good volumes confirming a longer term rally. This time also if pullback comes that too with good volumes then that would be good for long term.
Moreover , as far as the low is protected on weekly basis no need for panic.
Srei Infra:
Srei Infra charts looks good as it has managed to remain above breakout even in correction. As fas this level is protected in closing basis it may see some buying interest. Keep on radar,
Trident:
Trident near important support levels.. keep a close watch.
NOTE: Above charts are shared only for learning pupose and are not meant for any BUY/SELL recommendation.
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