In my last post, I had clearly explained why Nifty should not go down.....But at the same we saw a stiff resistance on the upside. Both the support and resistance still remains. And all of you must have seen the effect of such a strong support which couldnot be broken on closing basis after 2 days of testing that level of 2950-70 zone......
Going forward keep a eye on those levels with due regards on the angle of deflation from the horizontal and the shift in time. NF will remain ranged till it breaks out 3103. Above 3103, a direct move towards 3174 is possible. This time 3174 will act as the only resistance and there are now intersections at that level as of now.
Try to trade the Junior index stocks till NF breaches 3174 on the upside. Chances are that Junior index will outperform Nifty in this 150 point zone. Happy Trading....
[For new trading/demat ac plz contact me at 09433071980 or write to profitablethoughts@gmail.com. Complimentary portfolio guidance will be provided by me.]
Going forward keep a eye on those levels with due regards on the angle of deflation from the horizontal and the shift in time. NF will remain ranged till it breaks out 3103. Above 3103, a direct move towards 3174 is possible. This time 3174 will act as the only resistance and there are now intersections at that level as of now.
Try to trade the Junior index stocks till NF breaches 3174 on the upside. Chances are that Junior index will outperform Nifty in this 150 point zone. Happy Trading....
[For new trading/demat ac plz contact me at 09433071980 or write to profitablethoughts@gmail.com. Complimentary portfolio guidance will be provided by me.]
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