Hi All,
Nifty rallied smartly yesterday and hit a
century. It also achieved the Cup and Handle conservative target of
7680-7700 as mentioned....
Nifty is now trading near a Falling window
(Gap) on daily charts and a close above 7725 will be inevitable for a further
upmove. Aggressive traders can think taking a short trade if and only if
something is visible on intraday charts. I will update the same and put up a
call.
The bias for markets continue to be positive,
however, Nifty is trading near a crucial resistance area of 7720-7760, and a
pause in the rally can be expected.
Levels to watch out for –
Supports – 7675-7655-7615-7590
Resistances – 7725-7750-7780
Cheers ! ! !
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