What Chart Says:
Nifty formed a strong candle and found a good support at the closing by closing above the current month opening.
Behind the scenes:
Advance to decline ratio is around 42:8 in nifty 50
FII have pumped in 1418 Cr & DII has pumped in 559 Cr from the market
European markets are trading in red at the last closing session
SGX nifty is closed flattish at the time of review
US Market closed positive with 0.76% gains
Crude oil closed in green by 3.25% at 61.42
Gold is trading in green by 053% at 1744.86
US 10Yr bond is shown in a by closing around 1.716
Dollor index is showing possible selling buid up
What to expect:
Global markets showing a mixed kind of emotions but the domestic market looks . Expect a possible flattish opening and you can expect the upper resistance can be tested before trading in a range.
How to trade today:
1. GAP UP OPENING - First possible resistance is at 14875 and if it is taken out and if it acts as support then we can expect 14956 / 15051 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 14568. Any of these levels acting as a strong resistance can go short with possible lower targets of 14471/14350.
3. Flat OPENING - 14788 is the key level to watch out on flat open any at this level we can take positions in the direction of the trend and sit for targets as marked.
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?? Each levels Act can as possible support and resistance????.
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You can also check out the Links in the signature for detailed analysis & catch us on LIVE trading.
Happy Trading !