Thursday, April 21, 2016

Hanging Man . . . .! ! ! !

Hi All,

Nifty opened up with a gap yesterday, however, gave away all its gains, went in to negative territory, and finally closed flat near 7919.

As posted yesterday, 7950-60 will be the key levels to watch out for further upside, above which the psychological mark near 7980-8000 will act as important resistance.

Nifty on daily charts had given a Hanging Man Pattern on 18th April, and a close below 7840 could mean further pain for bulls.

On the lower side 7900-7870-7840 will act as good supports for Nifty.


Cheers

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