Nifty Closing Price @ 5545
Nifty Supports @ 5470-5380-5300
Nifty Resistances @ 5620-5690-5784
Nifty Trend Decider @ 5450-5620
Last week in our Nifty technical Analysis, We mentioned trend is neutral and market in sideways zone of 5450-5620. Nifty made Low @ 5472 & High @ 5605. For Next week, On Downside Nifty has support @ 5470-40. Closing below, it will move towards 5380-5300. As long as 5470 holds, chances of crossing 5620 on closing basis is possible. Once crosses 5620, then next stiff resistances @ 5690-5750. Trend is still neutral and decisive closing above/below 5470-40 and 5620 will decide further movement. Medium term is bearish now below 200 DMA of 5750. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Supports @ 5470-5380-5300
Nifty Resistances @ 5620-5690-5784
Nifty Trend Decider @ 5450-5620
Last week in our Nifty technical Analysis, We mentioned trend is neutral and market in sideways zone of 5450-5620. Nifty made Low @ 5472 & High @ 5605. For Next week, On Downside Nifty has support @ 5470-40. Closing below, it will move towards 5380-5300. As long as 5470 holds, chances of crossing 5620 on closing basis is possible. Once crosses 5620, then next stiff resistances @ 5690-5750. Trend is still neutral and decisive closing above/below 5470-40 and 5620 will decide further movement. Medium term is bearish now below 200 DMA of 5750. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
