YESTERDAY CALL
Today nifty hit the first support and then bounced back.
MARKET VIEW FOR TODAY
As I said nifty closed above the opening. Nifty today too hit the critical support 4655 and bounced back to close near the 4700 level. For past two days nifty struggles to close above 4700 levels and testing the 4655 levels. Today in the Price chart a waiting pattern was formed and the bread out can be expected.
MARKET VIEW FOR THURSDAY
Tomorrow inflation data to come and I feel this will lead the market. To my knowledge I think the break out would be possibly upside because global cues are good but still I suggest visitors to trade with stop loss.
NIFTY LEVELS
Technically in the price chart a waiting pattern had formed and for two days 4655 levels had broke and managed to close near the 4700 levels, this shows that around 4655 levels buying was there. This time I would suggest buying nifty above 4734 levels with strict stop loss of 4655 level.
SUP: 4655, 4615, and 4583. RES: 4734, 4828, 4870. STOP LOSS: 4615.

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