Nifty Closed @ 5,310
Supports @ 5220-5120-5050
Resistances @ 5380-5440-5555
Trend Decider @ 5380 & 5180
Strong/Weak Above/Below 5380
Nifty still trading in bearish mode with crucial strong support @ 5220-5168. Last week, Nifty broke crucial support of 5440-5350 & made low around 5180. The correction was severe specially in Mid/Small cap and Infrastructure stocks. Small/Mid Cap made new 52 week low. Most of the momentum oscillator are extremely oversold & OI indicates lots of Shorts in the system. Until & Unless Nifty Spot Holds 5200 on closing basis, Chances of Pullback is quite high. Nifty Bullish only if closes above 5380 for a week. Closing below 5200 Nifty will move towards 5120-5050-5000. Long Term is still bullish and this correction is 20 Month bull market correction.
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Supports @ 5220-5120-5050
Resistances @ 5380-5440-5555
Trend Decider @ 5380 & 5180
Strong/Weak Above/Below 5380
Nifty still trading in bearish mode with crucial strong support @ 5220-5168. Last week, Nifty broke crucial support of 5440-5350 & made low around 5180. The correction was severe specially in Mid/Small cap and Infrastructure stocks. Small/Mid Cap made new 52 week low. Most of the momentum oscillator are extremely oversold & OI indicates lots of Shorts in the system. Until & Unless Nifty Spot Holds 5200 on closing basis, Chances of Pullback is quite high. Nifty Bullish only if closes above 5380 for a week. Closing below 5200 Nifty will move towards 5120-5050-5000. Long Term is still bullish and this correction is 20 Month bull market correction.
~ Trade with Levels not with Hope
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
