Yesterday I stated............. "a break bow 4975 can certainly make Nifty weak for the day and a immediate target will be 4940. Further breakdown can cause in more damage to Nifty which can lead fall up to 4860-4810/15-4730." We broke below those areas in very early morning and the downward slide was smooth enough. Impulse moves on every time frame is live and kicking.
Re-posting the first chart posted in the view for 20th January, and check for yourself. HERE is the chart posted earlier and below is the current update.
Perfect..... isn't it?
Supports: 4825/10 looks like very close. But I am personally expecting some bounce as correction on the upside.So holding 4810/25 can provide some reasonable upmove on intra day basis. Further Violation can cause 4725/30.
Resistances: 4855 is immediate. Above that 4905-4955 is possible. Bigger bounces will be targeted by the shorters to create further short positions. Will try to update intra day tomorrow.
SIR YOUR CHART READING IS SIMPLY SUPEREB
ReplyDeleteHm...ofcourse... your intraday update will be helpful for traders like me.. at this crucial stage.
ReplyDeleteThanks in advance.
Regards
any intra advise? as nifty reached 4825..
ReplyDeleteregards
your analysis are simply superb.
ReplyDelete