Hi All,
Adhering to my previous view, Nifty is
looking bearish and the sell on rise strategy might be fruitful in this
scenario.
On Friday, Nifty traded in a tight range of
around 40 points, and is expected to open on a flat note today, thanks to the
global cues as the SGX Nifty is up by 8 points.
For any intraday upmove, Nifty has to
necessarily cross the levels of 7570-80, above which it can move up to a strong
resistance area near 7600.... One can look forward for selling opportunities
near the resistance, provided charts give a confirmation for the same.
Levels to watch out for –
Supports – 7530-7510-7470-7400
Resistances – 7570-7610-7650-7700-7750-7780
We will initiate a trade after
getting a suitable confirmation on charts.....
Cheers
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