Hi All,
After creating a Hammer and surpassing it
(7840), Nifty rallied sharply by rigorously defeating bears.
On Daily charts, Nifty still has lower top
lower bottom formation and the same will be nullified when Nifty surpasses
7890-7900 levels.
So, 7890-7900 becomes a crucial level now
to watch out for, though the level has become weak, it will still act as a
resistance.
Any short positions should be with a strict
stop loss above 7900 levels on spot.
Levels to watch out for –
Supports – 7850-7810-7750-7710-7670
Resistances –7890-7950-8000
Cheers - - -
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