Nifty Future closing price @ 5454
Nifty Future Supports @ 5380-5300-5220
Nifty Future Resistances @ 5510-5620-5700
Strong/Weak Above/Below 5410
last week, Nifty recovered from extremely oversold territory. On Friday, Due to some profit booking, It lost some ground. Currently, Nifty is slightly Bullish with major Hurdle @ 5560 & 5635 (200 DMA). On Downside intermediate support @ 5410-5350. Until & Unless Nifty manages to Close above 5635 for 2 days, Most likely Nifty will trade in region of 5350-5635 for next week. Closing below 5380, Trend will change to bearish and 5277-20 will come to picture. This is also Expiry week and Budget is round the corner which will make market volatile. Many beaten down Small/Mid cap recovered some ground by Value buying & Some short covering. As we said many times in last few weeks, Long Term is still bullish and this correction is 20 Month bull market correction not bear market correction.
" Trade with Levels not with Hope "
Regards,
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