As shown on the chart yesterday, nifty did justify 5080 in a great manner by a gap up opening recording low @ 5083, giving the early hint of the reversal. Though it gave little or no chance for intra-day traders to enter into long trade unless some positional longs built on last Friday. Currently the downward move certainly under threat but som technical levels are yet to be broken.
Supports: 5165-80 is entry zone long on for very short term traders. Trading below 5160/55, it can target 5125/15 before moving up again.
Resistances: 5210/20 is initial hurdle. Above that 5250 and 5290-5310/20 will be important place to watch out. Traders are requested to show patience in these extreme condition for intra trading.
0 comments:
Post a Comment