Markets are crucially poised after closing 2% positive on a weekly basis post rangebound trading admist high volataility on A/c of dismal Infosys Q3 nos & Better IIP data.
PCR ( put-call ratio ) is currently hovering around 1 & it indicates that markets are in a consolidation phase.
Going Forward, Nifty Futures may face selling pressure on all rises as its approaching high resistance zone & its advisable to reduce Long positions till Nifty Fut crosses & closes abv critical resistance zone 4948-4960.
Real Panic & price capitulation would set in once we close below the strong support 4817. Breach of 4817 could drift the index to lower levels of 4704/4590.
Upside upto 5060 / 5139 could be witnseed only if 4960 is crossed & Nifty Fut closes above it.
Till Nifty Fut crosses above 4960, Probable Trading range would be 4817-4960.
Regards,
Team Market View Investments.
Mo : 9987750901.
Visit www.mktviews-nifty50.blogspot.com
Facebook : www.facebook.com/mktviews.
Team Market View Investments.
Mo : 9987750901.
Visit www.mktviews-nifty50.blogspot.com
Facebook : www.facebook.com/mktviews.
Never Forget : Our NATURE is our FUTURE !!
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