Hi All,
As expected, though Nifty opened slightly
crosses the Monday’s high of 8215 yesterday, it could not cross the Window
resistance of 8209-8217-20 mark and traded lower thereafter.
After a Star candle followed by a Bearish
engulf, yesterday, Nifty showed a sort of Gravestone Doji Candle, yet another
bearish pattern on daily charts near gap resistance, which again suggest the
ongoing pessimism in the market participants.
Which further confirms my view that any
upside is possible only and only after a close above 8220 levels. Nifty can
even witness a selling if it breaks 8100-8130 area.
Levels to watch out for intraday
are –
Supports –
8130-8100-8060-8000-7940-7850
Resistances -
8185-8210-8230-8260-8340
Cheers
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