It was asserted, "a dip after crossing 4275, can be buying opportunity (in that case 4223 can act as very good support)", we broke 4275 while making a high of 4283 and dipped down to 4218. We held 4209 successfully and swirled exactly upto our one of the resistances of 4317. The current scenario is like.
So we are currently witnessing and trading in a uptrend, though on the smallest of time frame (5-10 minutes). But the fuel for this uptrend remains intact as long it's holding 4275 for the final targets near 4245/53 zone, and it's a buy for the day.
Supports: 4289-4275; 4275 is the main area for bulls to maintain the upward momentum. Below 4275/72 it can target 4260/55-4236-4224/17 zone in a probable 5 wave downmove.
Resistances:4318/23 and the big 4345/52 zone. Will book longs once around this level for sure and wait for proper signal. A convincing cross above 4355 will target 4385 and 4422/30 on the upside.
Trade safe! :)
So we are currently witnessing and trading in a uptrend, though on the smallest of time frame (5-10 minutes). But the fuel for this uptrend remains intact as long it's holding 4275 for the final targets near 4245/53 zone, and it's a buy for the day.Supports: 4289-4275; 4275 is the main area for bulls to maintain the upward momentum. Below 4275/72 it can target 4260/55-4236-4224/17 zone in a probable 5 wave downmove.
Resistances:4318/23 and the big 4345/52 zone. Will book longs once around this level for sure and wait for proper signal. A convincing cross above 4355 will target 4385 and 4422/30 on the upside.
Trade safe! :)
Amazing Analysis! Satyam, Nifty took resistance from the exact levels, where you have gauged. Great thinking!! :)
ReplyDelete-Doji
Doji,
ReplyDeleteNeedless to say, same thing goes to you. The way you are helping all of us by posting such fantastic charts that too in real time, people can't ask more than this (even though they are asking, lolz).. Congrats to you also for putting such a hard work. Please keep it up for followers like us.
-Satyam.