Nifty Spot Closing Price @ 5284
Nifty Spot Supports @ 5187-5061
Nifty Spot Resistances @ 5371-5503
Last week market remained range bound between 5200-5350. Nifty spot made low around 5200 and recovered some ground and closed at 5284. Next week is expected to be volatile as it will have only 3 trading sessions as Monday and Thursday are holidays. Nifty spot index has strong support @ 5200-5180 zone and until and unless it holds, One can continue to hold long positions or/and Buy on Decline. Closing below 5187 spot for 2 days, Trend will become mild negative from neutral and next supports of 5061-4970 will come in picture. On upside 5330-5370 is stiff resistance zone which was formed by the 61.8% of the short term or immediate fall, 50% of the intermediate or medium term fall and 38.2% of the higher term time frame fall. Closing above 5371, next upside target could be around 5500 with trend reversal at 5200.
Short term is side-way with mild positive bias. Medium term is Bearish and long term is bullish and this is the time 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. Risk-Reward ratio for Buyer for long term investment is good.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Spot Supports @ 5187-5061
Nifty Spot Resistances @ 5371-5503
Last week market remained range bound between 5200-5350. Nifty spot made low around 5200 and recovered some ground and closed at 5284. Next week is expected to be volatile as it will have only 3 trading sessions as Monday and Thursday are holidays. Nifty spot index has strong support @ 5200-5180 zone and until and unless it holds, One can continue to hold long positions or/and Buy on Decline. Closing below 5187 spot for 2 days, Trend will become mild negative from neutral and next supports of 5061-4970 will come in picture. On upside 5330-5370 is stiff resistance zone which was formed by the 61.8% of the short term or immediate fall, 50% of the intermediate or medium term fall and 38.2% of the higher term time frame fall. Closing above 5371, next upside target could be around 5500 with trend reversal at 5200.
Short term is side-way with mild positive bias. Medium term is Bearish and long term is bullish and this is the time 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. Risk-Reward ratio for Buyer for long term investment is good.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
