Hi all,
Unexpectedly Nifty broke 7700 mark without
showing any respect, however as per the analysis after breaching that level in
the opening today, it fell sharply and markets saw a blood bath.
Nifty is now trading near the supports of
7540-7560, and that’s a used support. The entire trend depends on it now.
Below7530-7500, the gates for 7420 and even 7100 will be opened.
Nifty has to close below this support as I
said yesterday and weekly close tomorrow will be extremely crucial. A weekly
close below 7600 will be very disappointing for the markets.
In a nutshell, bulls only have a day or 2 to
bounce back, if they want to, or else Nifty is set for downward targets as
mentioned earlier
Cheers . . . .
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