Nifty Spot Closed @ 5654
Nifty Spot Supports @ 5560-5465
Nifty Spot Resistances @ 5700-5812
Strong/Weak Above/Below 5560
Last week, Nifty crossed all resistance and closed @ 5654. Japan issue is settled as nuclear came under control. Most of the Negative News flows were already in price and after consolidation for over 6 weeks, Nifty reacted in positive way. For Next Week, Nifty will face Hurdle @ 200 SMA which is 5688 and above 5750-5812. Now earlier crucial resistance of 5560-10 will act as short term support. At higher level of 5688-5750, there could be some profit booking. Its time to HOLD Longs with trailing SL of 5560-10 or Buy on Decline with SL 5560-10. Closing below 5510, trend will change to Neutral from bullish. Long term is Bullish since last 2 years and we always mentioned to Buy in Systematic way at lower level 5200-5400 as this was Bull market correction not bear market correction.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Spot Supports @ 5560-5465
Nifty Spot Resistances @ 5700-5812
Strong/Weak Above/Below 5560
Last week, Nifty crossed all resistance and closed @ 5654. Japan issue is settled as nuclear came under control. Most of the Negative News flows were already in price and after consolidation for over 6 weeks, Nifty reacted in positive way. For Next Week, Nifty will face Hurdle @ 200 SMA which is 5688 and above 5750-5812. Now earlier crucial resistance of 5560-10 will act as short term support. At higher level of 5688-5750, there could be some profit booking. Its time to HOLD Longs with trailing SL of 5560-10 or Buy on Decline with SL 5560-10. Closing below 5510, trend will change to Neutral from bullish. Long term is Bullish since last 2 years and we always mentioned to Buy in Systematic way at lower level 5200-5400 as this was Bull market correction not bear market correction.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
