Nifty Spot Closed @ 5304
Nifty Spot Supports @ 5220-5100
Nifty Future Resistances @ 5410-5560
Strong/Weak Above/Below 5340
last week, Nifty was extremely volatile with range of 300 points. Nifty made short term bottom few days back @ 5177 but fresh sell-off came due to spike in Crude Oil due to instability in Middle-east. Currently, Nifty is in Complete bearish mode with major Support @ 5220-5180. On Monday, we will have Budget. Hence, Volatility is expected to be there. If Nifty Holds 5220-5180 on Closing basis, then it will be double bottom which can create a Pullback rally till 5410-5560-5640. If Nifty closes below 5200, then it will move towards next technical support @ 5120-5050. Traders should use 5220 for going long/short. Short term & Medium term is bearish But Long Term is still bullish and this correction is 20 Month bull market correction not bear market correction. Hence, Long term Investors should Buy in Staggered manner.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Spot Supports @ 5220-5100
Nifty Future Resistances @ 5410-5560
Strong/Weak Above/Below 5340
last week, Nifty was extremely volatile with range of 300 points. Nifty made short term bottom few days back @ 5177 but fresh sell-off came due to spike in Crude Oil due to instability in Middle-east. Currently, Nifty is in Complete bearish mode with major Support @ 5220-5180. On Monday, we will have Budget. Hence, Volatility is expected to be there. If Nifty Holds 5220-5180 on Closing basis, then it will be double bottom which can create a Pullback rally till 5410-5560-5640. If Nifty closes below 5200, then it will move towards next technical support @ 5120-5050. Traders should use 5220 for going long/short. Short term & Medium term is bearish But Long Term is still bullish and this correction is 20 Month bull market correction not bear market correction. Hence, Long term Investors should Buy in Staggered manner.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
