Nifty Spot Closing Price @ 5634
Nifty Spot Supports @ 5530-5410
Nifty Spot Resistances @ 5730-5848
Last week in our Nifty technical analysis, We mentioned Nifty is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Nifty recovered from key support of 5530-5495 and closed at 5634.
For Next weel, Nifty Spot Trend is mild Bullish until it holds 5530 on closing basis. On Upside Nifty spot has resistances at 5652 and then at 5717-5752. If Nifty Spot closes above 5730 for 2 days, then it will move towards 5800-5848. One should continue to Hold Long positions or Buy on Decline with SL 5530 on closing basis. Closing Above 5730, Nifty will streghten its bulishness. On Downside, Nifty Spot has supports at 5530-5495. Closing below 5495, next supports of 5410-5355 will come in picture. Currently, Short term is Bullish Above 5495 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Spot Supports @ 5530-5410
Nifty Spot Resistances @ 5730-5848
Last week in our Nifty technical analysis, We mentioned Nifty is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Nifty recovered from key support of 5530-5495 and closed at 5634.
For Next weel, Nifty Spot Trend is mild Bullish until it holds 5530 on closing basis. On Upside Nifty spot has resistances at 5652 and then at 5717-5752. If Nifty Spot closes above 5730 for 2 days, then it will move towards 5800-5848. One should continue to Hold Long positions or Buy on Decline with SL 5530 on closing basis. Closing Above 5730, Nifty will streghten its bulishness. On Downside, Nifty Spot has supports at 5530-5495. Closing below 5495, next supports of 5410-5355 will come in picture. Currently, Short term is Bullish Above 5495 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
