Hi All,
After rallying for 8 consecutive sessions, Nifty closed the day in red ahead of FNO expiry today.
Now, on the daily charts we have a bearish Engulfing Candle which is a sign of concerns for bulls.
With global uncertainty over Greece issues, a level to watch out for bulls will be 8330, below which 8250 can be very certain, 8300-8250 will act as short term reversal for the immediate up trend.
Tomorrow, on account of expiry markets are certainly going to be very volatile, hence traders are advised to trade with lot of caution....
The upside resistances are same near 8470-8510.... on surpassing that Nifty can head towards the journey till 8650-8800....
It's surely a Pray time for Bulls, Nifty should not break key supports, because as mentioned earlier, support of 8000-7950 has become weak now and may not be able to stop the fall in Nifty if any....
Fingers crossed.....
Cheers
Hrishi
After rallying for 8 consecutive sessions, Nifty closed the day in red ahead of FNO expiry today.
Now, on the daily charts we have a bearish Engulfing Candle which is a sign of concerns for bulls.
With global uncertainty over Greece issues, a level to watch out for bulls will be 8330, below which 8250 can be very certain, 8300-8250 will act as short term reversal for the immediate up trend.
Tomorrow, on account of expiry markets are certainly going to be very volatile, hence traders are advised to trade with lot of caution....
The upside resistances are same near 8470-8510.... on surpassing that Nifty can head towards the journey till 8650-8800....
It's surely a Pray time for Bulls, Nifty should not break key supports, because as mentioned earlier, support of 8000-7950 has become weak now and may not be able to stop the fall in Nifty if any....
Fingers crossed.....
Cheers
Hrishi
No comments:
Post a Comment