Wednesday, December 23, 2015

7870 crucial......

Hi All,

As expected, Nifty took support near 7700-7715 mark and rallied again till the resistance areas of 7820-7860....

Since the area of 7820-7860 is used multiple times now, once can expect Nifty to surpass the same this time, however, 7860-7870 levels as per daily charts are hurdles (super trend resistance) and markets need to cross that level convincingly. Surpassing the same can target 7905-7970....

Supports on the lower side are intact near 7770 and 7730-7700

An either side move can be best expected only after breaching the aforesaid levels on either side, i.e. 7870 on higher side and 7700 on the lower side.


Cheers