Post F&O expiry, decent pullback was witnessed from 5340 to 5480 levels & it closed on a weekly high followed by Short Covering & selective buying support @ lower levels. Current Fall may be halted & Markets may stage a minor pullback upto 5600 levels before a further slide.
Stay Cautious of this Upmove till 5612 is not crossed & sustained as it may only turn out to be a pullback & not a Bullback.
Going Forward,
Nifty Fut will face stiff resistance @ 5593-5612 levels crossing & sustaining abv which further Momentum would lead to 5740 & 5834.
But, If fails to cross & sustain abv 5612, Will be in a trading range 5376-5612.
Strong support lies @ 5378-5384.
If breaks & closes below 5376, it may touch 5256 & 5139.
Nifty Fut will face stiff resistance @ 5593-5612 levels crossing & sustaining abv which further Momentum would lead to 5740 & 5834.
But, If fails to cross & sustain abv 5612, Will be in a trading range 5376-5612.
Strong support lies @ 5378-5384.
If breaks & closes below 5376, it may touch 5256 & 5139.
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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.
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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