Nifty Spot Closed @ 5826
Nifty Spot Supports @ 5702-5580
Nifty Spot Resistances @ 5920-6040
Strong/Weak Above/Below 5702
Last week in Nifty View, We mentioned Nifty is Bullish Above 5560 with Hurdle @ 5691. Nifty Again Crossed all Hurdle of 5691-5750-5801 & Closed Above 5800. After 500 Up-Move on Nifty, One can expect some consolidation. Nifty Spot has minor hurdle @ 5878. Once Nifty Crosses 5878 then major Hurdle @ 5920-50. Earlier 200 SMA of 5690-5700 was major resistance which will now act as major support for short term. Once Nifty Closes below 5702, then Trend will change to little bearish and 5620-5560 Possible. Overall Market is Bullish Above 5702 and any decline is Buying opportunity and time to Hold earlier longs with trailing SL. Stock specific action specially in Mid/Small cap will be in more limelight due to big valuation difference compare with Front liner. Long term is Bullish since last 2 years and we always mentioned in our Nifty View 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 @ 5702-5580
Nifty Spot Resistances @ 5920-6040
Strong/Weak Above/Below 5702
Last week in Nifty View, We mentioned Nifty is Bullish Above 5560 with Hurdle @ 5691. Nifty Again Crossed all Hurdle of 5691-5750-5801 & Closed Above 5800. After 500 Up-Move on Nifty, One can expect some consolidation. Nifty Spot has minor hurdle @ 5878. Once Nifty Crosses 5878 then major Hurdle @ 5920-50. Earlier 200 SMA of 5690-5700 was major resistance which will now act as major support for short term. Once Nifty Closes below 5702, then Trend will change to little bearish and 5620-5560 Possible. Overall Market is Bullish Above 5702 and any decline is Buying opportunity and time to Hold earlier longs with trailing SL. Stock specific action specially in Mid/Small cap will be in more limelight due to big valuation difference compare with Front liner. Long term is Bullish since last 2 years and we always mentioned in our Nifty View 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
