Nifty Spot Closed @ 5842
Support @ 5740-5620
Resistances @ 5945-6040
Trend Decider @ 5740 / 5945
Last week in our weekly nifty prediction, we mentioned Nifty is expected to be in consolidation phase. Once crosses minor hurdle @ 5878 it will reach 5920-50 which will be major hurdle. Nifty Spot Made high 5944+ after crossing small hurdle of 5878 and most of the time Nifty was in consolidation phase. For Next week, which has only 3 trading sessions is expected to be in almost same phase. Nifty has major resistances @ 5940-70. Once Nifty able to close above for 2 days, it will move towards 6040-6100. On Downside, it will find multiple support @ 5800-5750-5690. Most likely, Nifty will trade in range of 5750-5950. Any side break can increase the range. Overall market is bullish Above 5700. Hence, Its Buy on Decline. Medium Term is Bullish Above 5500. 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..
Support @ 5740-5620
Resistances @ 5945-6040
Trend Decider @ 5740 / 5945
Last week in our weekly nifty prediction, we mentioned Nifty is expected to be in consolidation phase. Once crosses minor hurdle @ 5878 it will reach 5920-50 which will be major hurdle. Nifty Spot Made high 5944+ after crossing small hurdle of 5878 and most of the time Nifty was in consolidation phase. For Next week, which has only 3 trading sessions is expected to be in almost same phase. Nifty has major resistances @ 5940-70. Once Nifty able to close above for 2 days, it will move towards 6040-6100. On Downside, it will find multiple support @ 5800-5750-5690. Most likely, Nifty will trade in range of 5750-5950. Any side break can increase the range. Overall market is bullish Above 5700. Hence, Its Buy on Decline. Medium Term is Bullish Above 5500. 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 "
