Update - 5th May 9.20 AM
A PRO Inside gap up, bias remains bullish, buy on dips with stops below 9240....
Also, Nifty has taken support and closed above the 61.8% retracement mark of the recent rise (Yellow colour, 9280) and 23.6% retracement of the entire rise from 7500 (Green colour, 9328)
A close now, above 9330-40 could mean the next leg upwards is in the making.....
A cause of concern is, on daily Nifty took resistance exactly near the Supertrend, hence any upside will be capped only till the recent high near 9880...
Cheers
Hrishi
Also, Nifty has taken support and closed above the 61.8% retracement mark of the recent rise (Yellow colour, 9280) and 23.6% retracement of the entire rise from 7500 (Green colour, 9328)
A close now, above 9330-40 could mean the next leg upwards is in the making.....
A cause of concern is, on daily Nifty took resistance exactly near the Supertrend, hence any upside will be capped only till the recent high near 9880...
Cheers
Hrishi
