Last Week, Nifty had taken Support @ 5460-5470 area & bounced back to 5620 following Positive Election Results & Spectacular IIP data. But Every Upmove had been embraced by sustained selling Pressure & is not able to cross critical resistance 5640-5650 which is 200 DMA as well as 38.2% Fib Retracement levels. Fuel Price Hike announced yesterday would have a negative impact on Monday.
Going Forward,
Nifty Fut will face stiff resistance @ 5631-5650 levels crossing & sustaining abv which further Momentum would lead to 5743 & 5827.
But, If fails to cross & sustain abv 5650, Will be in a trading range 5411-5650.
Strong support lies @ 5412-5421.
If breaks & closes below 5411, it may touch 5320 & 5190.
Nifty Fut will face stiff resistance @ 5631-5650 levels crossing & sustaining abv which further Momentum would lead to 5743 & 5827.
But, If fails to cross & sustain abv 5650, Will be in a trading range 5411-5650.
Strong support lies @ 5412-5421.
If breaks & closes below 5411, it may touch 5320 & 5190.
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Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions.
As equity traders/Advisors We, our relatives and friends may have position in the stocks suggested by us. We are individuals and dont belong to any brokerage house or company. All Recommendations are based on technical and/or fundamental analysis and/or Personal observations.
Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions.
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