Hi All,
Owing to domestic and global negative factors Nifty plummeted badly in this Independence day week.
Though a positive weekly close has a remote probability Bulls will still depend a lot on 8320-8300 levels. A close below the same and Nifty is set for another down turn will 8200-8100-7950 levels.
However, personally I feel a lot of negative things are now factored in by now (Like, Yuan devaluation, GST not passing in, Policy Paralysis due to non functioning of both the houses of Parliament, etc.) and still Nifty managed to stay above yesterdays low of 8338 which is a sign of relief.
So If we hold 8320-8300 levels on closing basis a short term bounce can not be ruled out.
Bulls .... last ray of hope.... 8320...
Bears can party if the same is breached on a closing basis.
Cheers
Hrishi
Owing to domestic and global negative factors Nifty plummeted badly in this Independence day week.
Though a positive weekly close has a remote probability Bulls will still depend a lot on 8320-8300 levels. A close below the same and Nifty is set for another down turn will 8200-8100-7950 levels.
However, personally I feel a lot of negative things are now factored in by now (Like, Yuan devaluation, GST not passing in, Policy Paralysis due to non functioning of both the houses of Parliament, etc.) and still Nifty managed to stay above yesterdays low of 8338 which is a sign of relief.
So If we hold 8320-8300 levels on closing basis a short term bounce can not be ruled out.
Bulls .... last ray of hope.... 8320...
Bears can party if the same is breached on a closing basis.
Cheers
Hrishi
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