As they say.....
All is well, that Ends well....
Today as well, Nifty opened gaped up by almost 70 points showing a lot of strength from bulls, and the markets traded almost in the range of 60 points till 2.30.
Though, bears showed their presence, for a very small period of less than an hour, Bulls managed to pull the prices fairly up again....
As mentioned in the earlier post, Nifty exactly took resistance in the zone of 10810-10870 (multiple barriers, 78.6% retracement, gap down openings and Supertrend on daily charts) and now it becomes crucial to surpass this level, before bears get charged up....
Even though for little time, bears showed there presence hence the next up move can only start above 10840-10870 levels. There was nothing seriously bearish on intra day chart yet, but tone can look for intra day shorts with strict stop loss above the resistances.Traders can watch out for these numbers.
Crucial levels to watch out for -
Supports - 10740-10700-10620-10550-10480-10430-10300-10100-10000-9950-9700
Resistance - 10750-10820-10860-10950-11050-11170
Cheers
Hrishi
All is well, that Ends well....
Today as well, Nifty opened gaped up by almost 70 points showing a lot of strength from bulls, and the markets traded almost in the range of 60 points till 2.30.
Though, bears showed their presence, for a very small period of less than an hour, Bulls managed to pull the prices fairly up again....
As mentioned in the earlier post, Nifty exactly took resistance in the zone of 10810-10870 (multiple barriers, 78.6% retracement, gap down openings and Supertrend on daily charts) and now it becomes crucial to surpass this level, before bears get charged up....
Even though for little time, bears showed there presence hence the next up move can only start above 10840-10870 levels. There was nothing seriously bearish on intra day chart yet, but tone can look for intra day shorts with strict stop loss above the resistances.Traders can watch out for these numbers.
Crucial levels to watch out for -
Supports - 10740-10700-10620-10550-10480-10430-10300-10100-10000-9950-9700
Resistance - 10750-10820-10860-10950-11050-11170
Cheers
Hrishi
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