Nifty Update for June 13 - Buy Nifty for Target 4639 - Inder Bhatia

The Indian market closed in the green zone. A smart recovery after a gap down opening was welcomed by traders and investors. The IIP growth for the month of April 2008 stood 7 percent,which was lower than 11.3% in the corresponding month of the previous year. However, this was perceived as positive since it was better than 3.9% in March 2008. Nifty is seen making an inverted head and shoulder pattern on the hourly chart. If Nifty crosses 4550, it could test 4639. On the lower side 4470-4370 will act as strong support.

Buy Nifty for target 4639.

Hope you profited from Sasken and Aptech intraday. Stay profitable.