YESTERDAY CALL
Today nifty closed below the opening level but I expected that it would close above the opening level; also touched the second support level.
MARKET VIEW FOR TODAY.
Today market touched the second support level but managed to close near the first support level. As I said there might be a pull back rally today, has happened. Technically, today in the price chart, I feel, a break has been applied for the current down move, but I won’t qualify it has trend reverse, still it might work for couple of days or three. Let’s see what happens tomorrow.
MARKET VIEW FOR TUESDAY
As I had said I expect a pull back rally this week, today’s trade seems to be supporting my view. Technically in the price chart a trend arresting pattern was formed, which should not be considered as trend reversal pattern. There might be a mild up move because of the Q1results. Still the gap has not yet filled, some 300 points left and any bad news may trigger the downtrend. So I request visitors to stick to the levels and trade.
FREE TIPS FOR INTRADAY
NIFTY LEVELS
For Tuesday I feel nifty will close above tomorrow’s opening. If I am correct we can buy nifty with a strict stop loss 3950.
SUP: 3950, 3921, and 3850. RES: 4008, 4038, 4074, 4116.
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