YESTERDAY CALL
Today nifty hit all resistant levels.
MARKET VIEW FOR TODAY
I expected a positive move but not this much. Nifty crossed major resistant 4116 level. I feel one of the main reasons for the up move was monsoon factor. Couple of day’s nifty moved sharply and tomorrow LT results to come let’s see what happens.
MARKET VIEW FOR THURSDAY
Tomorrow market might move according to the LT results. In IIP data, released last week, capital goods sector’s performance was not good and declining so to my understanding LT results may not be to the expectation. Couple of days nifty had ran sharply so I expect nifty would trade in tight range, if I am correct possibly negative. I suggest selling at higher level.
NIFTY LEVEL
Technically in the price chart a bullish pattern was formed, for tomorrow I won’t expect a big move. LT result will take the lead. It will be mixed and possibly negative.
SUP: 4210, 4161, and 4116. RES: 4240, 4292. 4327.
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