Nifty closing price @ 5885
Nifty support levels @ 5800-5690
Nifty resistance levels @ 5955-6040
Last Week in our Nifty positional trading strategy, we mentioned Nifty spot is expected to trade in consolidation phase of 5750-5950 on closing basis. Nifty still trading in narrow range of +/- 2% (5800). Although Nifty spot managed to close 63 point higher from previous week. For Next week, Nifty will face major hurdle @ 5930-5970. Once Crosses 5930-5970 with volume, Next Technical target would be 6040+. On Downside, It has Strong Support @ 5730-5680. Trend has changed to little bullish from neutral. Its Buy on Decline for short term until Nifty trades above 5730 on closing basis. Bullish Strength will increase once closes above 5730-5970. Next week, Volatility will increase due to expiry week. Medium term bullish above 5600 and 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 support levels @ 5800-5690
Nifty resistance levels @ 5955-6040
Last Week in our Nifty positional trading strategy, we mentioned Nifty spot is expected to trade in consolidation phase of 5750-5950 on closing basis. Nifty still trading in narrow range of +/- 2% (5800). Although Nifty spot managed to close 63 point higher from previous week. For Next week, Nifty will face major hurdle @ 5930-5970. Once Crosses 5930-5970 with volume, Next Technical target would be 6040+. On Downside, It has Strong Support @ 5730-5680. Trend has changed to little bullish from neutral. Its Buy on Decline for short term until Nifty trades above 5730 on closing basis. Bullish Strength will increase once closes above 5730-5970. Next week, Volatility will increase due to expiry week. Medium term bullish above 5600 and 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
