Nifty Spot Closing Price @ 5073
Nifty Spot Supports @ 5000-4910
Nifty Spot Resistances @ 5180-5350
Last week in our Nifty technical analysis, We mentioned Nifty is Bearish below 5350 and 5130-5050-4970 possible. We said Bears will try to short on every rise. Nifty Hit below 4950 and closed at 5073. Nifty cracked big time due to S&P downgraded the US for the first time in 70 years
For Next week, Nifty is still in bearish zone below 5120. Next Supports stands at 5030-4970-4910. As long as Nifty trades below 5120, Trend will be bearish and last Monday low is possible. Closing Above 5180 for 2-3 days, then trend will become mild positive and it can move towards 5330-5400 zone. Now, Both short term and medium term are 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.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Spot Closing Price @ 5211
Nifty Spot Supports @ 5100-4970
Nifty Spot Resistances @ 5330-5450
Last week in our Nifty technical analysis, We mentioned Nifty is broadly in neutral and sideways zone between 5400-5700. Closing below 5370, Trend will change into bearish and June low 5256-5195 possible. The weakening financial and debt crisis in the US and Europe took a toll on our markets and Nifty hit 5116. Nifty spot closed at 5211.
For Next week, Nifty is in bearish mode. Next Nifty spot supports stands at 5130-5050-4970. Technically, Nifty is bearish below 5350. Until and Unless Nifty trades below 5350, Bears will try to short on every rise. Closing above 5350 trend will become mild positive and 5410-5470-5560 will come in picture. Now, Both short term and medium term are 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.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
