Nifty Closing Price @ 5551
Nifty Supports @ 5470-5380-5300
Nifty Resistances @ 5620-5690-5784
Nifty Trend Decider @ 5450-5620
Last week in our Nifty weekly analysis, We mentioned 5720-5690 is crucial support. Closing below, Nifty can drift towards 5620-5560. Nifty made low at 5444 & on Friday recovered some ground & closed at 5551 due to sharp correction in commodity prices. Last week Nifty weekly Support of 5690-5720 will act as stiff resistance for next week. Closing above 5690-5720, Nifty will move towards 5810-5930. On Downside, Nifty has support @ 5450 then 5370-5300. Trend for short term is Neutral from bearish due to sharp pullback rally on Friday. Bullish/Bearish Above/Below 5620/5450 on Closing basis. Medium term is bearish now below 5700. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally sound scrips 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 weekly analysis, We mentioned 5720-5690 is crucial support. Closing below, Nifty can drift towards 5620-5560. Nifty made low at 5444 & on Friday recovered some ground & closed at 5551 due to sharp correction in commodity prices. Last week Nifty weekly Support of 5690-5720 will act as stiff resistance for next week. Closing above 5690-5720, Nifty will move towards 5810-5930. On Downside, Nifty has support @ 5450 then 5370-5300. Trend for short term is Neutral from bearish due to sharp pullback rally on Friday. Bullish/Bearish Above/Below 5620/5450 on Closing basis. Medium term is bearish now below 5700. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally sound scrips 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
