Hi All,
After facing resistance near 7500, Nifty fell by almost 1% and found support near the first zone mentioned, i.e. 7420 and bounced back sharply by around 60 points, however was not able to cross 7500 mark.
Today, markets can witness a bit of extra volatility, on account of F&O expiry, hence traders are advised to trade with strict stop losses.
Though the bias for Nifty is positive due to candlestick patterns on daily and weekly charts, for any meaning full upside Nifty has to surpass 7500 mark.
After facing resistance near 7500, Nifty fell by almost 1% and found support near the first zone mentioned, i.e. 7420 and bounced back sharply by around 60 points, however was not able to cross 7500 mark.
Today, markets can witness a bit of extra volatility, on account of F&O expiry, hence traders are advised to trade with strict stop losses.
Though the bias for Nifty is positive due to candlestick patterns on daily and weekly charts, for any meaning full upside Nifty has to surpass 7500 mark.
Levels to watch out for –
Resistance –
7490-7510-7550-7610-7640
Supports –
7415-7390-7320-7270-7240...
Cheers!
Hrishi
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