YESTERDAY CALL
Nifty hit first resistant but not able to stay there it had touched two support levels. As I said there had been selling pressure in nifty.
MARKET VIEW FOR TODAY
Today market saw some selling pressure and closed near the major resistant level 4480. To my knowledge profit booking had started.
MARKET VIEW FOR WEDNESSDAY
4480 levels should be watched carefully, would nifty able to break this level with good volume, and then I think we should change our mind from selling to buying for tomorrow trade. However I am still on the selling side.
So I suggest visitors to stick to the levels and trade accordingly.
NIFTY LEVELS
Technically a bearish pattern is formed in the price chart, even though 4480 levels should be watched carefully. Would nifty breaks 4440 with good volume only then we can sell nifty with strict stop loss 4480.
SUP: 4440, 4375, and 4340. RES: 4480, 4515, 4551. STOP LOSS: 4480
Thanks for visiting!