YESTERDAY CALL
Today nifty closed above critical resistant 4655 and also reached the first and second resistant that I had given.
MARKET VIEW FOR TODAY
Nifty had a break out today for which it was struggling for past few sessions. It had also closed above crucial resistant 4655 level which signals for a slight up move. FII’s were net buyers today.
MARKET VIEW FOR TUESDAY
I feel this up move might continue tomorrow too but in a tight range. As FII’s buying had been continuing for past three session we can expect nifty to move further and profit booking too.
NIFTY LEVELS
Technically a bullish pattern was formed but it should not be consider as a trend reversal pattern. This trend may continue for a while. As for the past three trading session, nifty had been moving upwards continuously, so tomorrow we might see a tight range of trade. I would suggest visitors to buy only with a strict stop loss 4655.
SUP: 4655, 4583. RES: 4734, 4770, 4828. STOP LOSS: 4655.
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