NIFTY TRADE SETUP FOR THE DAY
-nifty index has broken major support levels in short-term time frame
-for the immediate future market turns to sell on rally
-major support tunrs into major resistances
-on the downside i expect market to test 14500-14410-14250
-any profit booking towards levels of 14765-14830 should be used to short
-crucial resistance is placed@14875
-crucial support is placed@14250
-there is a gap between 14410-14513 market will likely close that
-for sudden upside to resume index must take out the falling trendline
-please note that the index can take crucial support at the rising trendline on daily chart
-50 ema on daily chart can also act as crucial support 14340
NIFTY RESISTANCE FOR THE DAY
14875-14825-14730
NIFTY SUPPORT FOR THE DAY
14510-14405-14250
-for the immediate future market turns to sell on rally
-major support tunrs into major resistances
-on the downside i expect market to test 14500-14410-14250
-any profit booking towards levels of 14765-14830 should be used to short
-crucial resistance is placed@14875
-crucial support is placed@14250
-there is a gap between 14410-14513 market will likely close that
-for sudden upside to resume index must take out the falling trendline
-please note that the index can take crucial support at the rising trendline on daily chart
-50 ema on daily chart can also act as crucial support 14340
NIFTY RESISTANCE FOR THE DAY
14875-14825-14730
NIFTY SUPPORT FOR THE DAY
14510-14405-14250
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