YESTERDAY CALL
Today nifty broke the first support and touched second and third support too.
MARKET VIEW FOR TODAY
Today market was very volatile. Nifty broke major support levels but still managed to close just near the 4520 level which is also important support. For past few trading sessions even though nifty broke the support levels it manages to close above 4520 levels.Today too FII’s were net sellers.
MARKET VIEW FOR THURSDAY
As tomorrow is the contract expiry day market again will remain volatile and in tight range. This week, for past three days, I had noticed that at every dip buyers are coming and nifty recovers from low and manage to close above or just below the critical support level 4520. Tomorrow inflation data is to come and I feel it will give direction for tomorrow trade.
NIFTY LEVELS
Technically a hurdle pattern had formed in the nifty price chart for its up move. However I would not suggest selling because nifty some how manage to close around 4520 levels. Again I could not guess the direction and suggest visitors to stick to levels and to trade on their own.
SUP: 4520, 4480, and 4440. RES: 4583.
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