Overall Market :
After closing the Gap Nifty created on Thursday, market on Friday closed lower creating a bearish engulfing. The immediate term expected direction of Market is down. The market is trading in a triangle since Dec’10 and any major movement requires breaking the triangle.
After closing the Gap Nifty created on Thursday, market on Friday closed lower creating a bearish engulfing. The immediate term expected direction of Market is down. The market is trading in a triangle since Dec’10 and any major movement requires breaking the triangle.
The immediate resistance is at 5605 and breaking that it would likely to move to 5750. Any serious up move requires the Market to go above 5912 decisively.
The immediate support for nifty is at 5330. Any serious downside requires Nifty going below 5177.
Intraday Trading:
For Intraday trading one can look forward for buying opportunities around 5500 and 5458-5467 range with a stop loss below 5445.
Happy trading,
Neeraj Gogoi
For Intraday trading one can look forward for buying opportunities around 5500 and 5458-5467 range with a stop loss below 5445.
Happy trading,
Neeraj Gogoi
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