Nifty Spot Closing Price @ 5084
Nifty Spot Supports @ 4980-4865-4750
Nifty Spot Resistances @ 5180-5268-5400
We didn't posted Nifty Technical Analysis last week.
last week, Nifty recovered from 4900 levels and closed at 5084 after hitting high of 5143. Petrol price hike of Rs.3 per litre and a 25 bps hike in the interest rate has effected the upward momentum. For Next Week, Nifty is still in side-way zone between 4900-5180. As long as 4980 holds, Nifty can move upwards towards 5180-5268. Once Nifty Spot closes above 5268 for 2-3 days, Trend will change into Bullish and 5400 will come in picture. Below 4980, Next crucial support stands at 4900. Closing below 4900, Next target would be 4800-4750 zone.
Short term is side-way/neutral 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 @ 5040
Nifty Spot Supports @ 4970-4860-4720
Nifty Spot Resistances @ 5120-5250-5336
We didn't posted Nifty Technical Analysis for last 3 weeks due to technical reason.
For Next Week, Nifty is in neutral zone with negative bias. Overall, still weak and last week rally was pullback rally after big correction. Until and Unless Nifty Spot holds 4970, Chance of pullback till 5120-5250 is possible. 5220-50 will be strong resistance zone. There is 100 point gap between 5230 and 5330 which need to be filled for bullish trend. On Downside, Support stands at 4970-30. Closing below 4930. 4860-4800-4720 possible. On Upside, 1st resistance stands at 5120, Closing above 5220-5250 will come in picture. As per trading strategy, High risk trader can go long until 4970 Holds. Short term will be bullish only if closes above 5120 and then 5250 on closing basis. 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
