Finally 5350 resulted into deeper correction. Hope the discussion about 5350 resistance helped to create short/book longs. In fact mid term reversal points lies @ 5160-5100. In intra nifty has shown some attempt to correct on the upside.
Supports: As Nifty is witnessing upward correction on the shortest time frame, 5250/45 is the main support for the day for that to remain. Below that 5230-5215 is crucial point of nifty for a reversal. Positional support lies @ 5160-5115 for nifty.
Resistance: 5280 is key now. Sustaining above that make nifty move little more upward towards 5305-5320-5330. Fresh positional longs are to be taken either on the break of 5350 or around positional support discussed.
0 comments:
Post a Comment