Laaaaaaaaaaao Bazaaaaar, Nifty 8 Hajaaaar ! ! !

Hi All,

As expected after surpassing the psychological level of 8000, Nifty rallied sharply by almost another percentage point and settled near 8070. Sensex too surpassed the barrier of 26000 mark

Going forward, 8120-25 will act as hurdle for bulls on the up side above which ideally Nifty should target 8200-8340 levels.

On the lower side a solid support from short term / mid term point of view will be near 7700-7670 and a break below that will change the trend to downwards.

Till any bearish confirmation on charts the bias for markets remains positive and Nifty should target 8200-8340 levels in coming days.

Levels to watch out for –

Supports – 8000-7950-7920-7850-7730-7700-7670

Resistances – 8100-8125-8200-8220-8250-8270-8300-8340-50

Cheers

Bulls in party mood....

Hi All,

After creating a bottom near 7700 levels Nifty rallied sharply for 2 days and closed yesterday near 7950 mark (7934.90)

Going forward, nifty will have a stiff resistance near 7990-8000 levels which acted as a hurdle for bears as a psychological level.

Any long trades should strictly folllow a trailing stop loss, and short trades if any should be with tight stop loss above 8000 levels on Nifty spot.....

Cheers