Nifty Future Closed @ 5536
Nifty Future Supports @ 5430-5350
Nifty Future Resistances @ 5640-5755
Nifty Future Strong Above 5640 & Weak Below 5480
last week, Nifty Future broke all crucial Supports and closed below 200 DMA which makes bearish chart pattern. Technically Nifty Future is extremely weak but oversold. But Oversold phase can be longer than anticipated in trending range. Nifty Future trading strategies should be based on Crucial levels rather than Hope. Nifty Future medium term Supports Stands @ 5470-5350 which is vital for medium term market trend. 5430-5350 is importance support levels from where Pullback possible till 5755-5840 if holds 5430-5350. Closing Below 5350, Next Support Stands @ 5240-5120. One should add some longs and cut shorts on trend reversal or if 5430-5350 Holds. Trend will change to bullish only if closes below 5640. Long term outlook remains bullish and this correction is 20 Month Bull market correction not bear market correction. Long term Investors should accumulate Fundamentally Strong Scrips with 1 year time-frame in parts as risk-reward is fruitful in long run.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Future Supports @ 5430-5350
Nifty Future Resistances @ 5640-5755
Nifty Future Strong Above 5640 & Weak Below 5480
last week, Nifty Future broke all crucial Supports and closed below 200 DMA which makes bearish chart pattern. Technically Nifty Future is extremely weak but oversold. But Oversold phase can be longer than anticipated in trending range. Nifty Future trading strategies should be based on Crucial levels rather than Hope. Nifty Future medium term Supports Stands @ 5470-5350 which is vital for medium term market trend. 5430-5350 is importance support levels from where Pullback possible till 5755-5840 if holds 5430-5350. Closing Below 5350, Next Support Stands @ 5240-5120. One should add some longs and cut shorts on trend reversal or if 5430-5350 Holds. Trend will change to bullish only if closes below 5640. Long term outlook remains bullish and this correction is 20 Month Bull market correction not bear market correction. Long term Investors should accumulate Fundamentally Strong Scrips with 1 year time-frame in parts as risk-reward is fruitful in long run.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
