Hi all,
Nifty after opening gap down, near supports of 5610-5600 levels today, showed a bit of strength and closed in green almost after a week of loosing streak.
Today's high remains very crucial. If today's high, i.e. 5655-60 is taken out on Thursday, we can have a short term up move with supports below 5600-5590 and resistances being near 5690-5715-5750-5800....
however its important to note that if and only if the high of 5660 is taken out on Thurday the above mentioned view would become active, else the support 5600-5590 will act crucially below which a further downside till 5550-5500 can be expected...
Trade with strict Stop Loss and proper Money Management........
Cheers
Hrishi!!!
Nifty after opening gap down, near supports of 5610-5600 levels today, showed a bit of strength and closed in green almost after a week of loosing streak.
Today's high remains very crucial. If today's high, i.e. 5655-60 is taken out on Thursday, we can have a short term up move with supports below 5600-5590 and resistances being near 5690-5715-5750-5800....
however its important to note that if and only if the high of 5660 is taken out on Thurday the above mentioned view would become active, else the support 5600-5590 will act crucially below which a further downside till 5550-5500 can be expected...
Trade with strict Stop Loss and proper Money Management........
Cheers
Hrishi!!!
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