Discussed 5080 acted big again, while nifty bounced big once again from 5088 for the higher levels. A smaller 5 wave upmove is being seen on the chart.
Supports: This upmove is being held by 5080 clearly. So that would be reversal level for this upmove. For the day it may get weak below 5145 zone for 51250-5090 again. Below 5080 current upmove ends.
Resistances: As shown, 5185 is very important, as well 5220 is. Above these 2 levels nifty can certainly hit 5255-5290/95, where bull power will be retested again.
5250 (approx) was what I was looking at too being I-HnS b/o on Spot though ..
ReplyDeleteyes muratt.. u r right, but 5175/80 should hold now for that to happen. or taking out 5220 convincingly.
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