For the past 2 weeks Nifty has supported 4912 which now has become and important swing low. BREAK THIS and we could see it come down by another 200 points as we are now trading in a 240 point range (4912-5152)
Close below the monthly open of 5109 would create a new bearish outlook for the short term.
Nifty's trend deciding level is 5046
As we had expected yesterday the market sank by almost 50 points but there was hardly any movement in any of the scripts. Nifty could open lower but we are fairly optimistic about the day being strong and in an upward movement.
Buy at / above: 5041 Targets: 5056 - 5074 - 5091 - 5109 Stoploss : 5023
Sell at / below: 5023 Targets: 5008 - 4990 - 4972 - 4955 Stoploss : 5041
Close below the monthly open of 5109 would create a new bearish outlook for the short term.
Nifty's trend deciding level is 5046
As we had expected yesterday the market sank by almost 50 points but there was hardly any movement in any of the scripts. Nifty could open lower but we are fairly optimistic about the day being strong and in an upward movement.
Buy at / above: 5041 Targets: 5056 - 5074 - 5091 - 5109 Stoploss : 5023
Sell at / below: 5023 Targets: 5008 - 4990 - 4972 - 4955 Stoploss : 5041
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