indiamarketoutlook

Is Nifty setting up for 13240 odd levels

Long
NSE:NIFTY   Nifty 50 Index
Nifty 12771

- Nifty had a 166 point drop today
- as of now it does not look like the end of bull ride but just a pause....
- chart set up still suggests that it has unfinished business & has doors open for a move towards 13240 odd levels in short term
- minor resistance at 12830-12874 levels
- support at 12630-12572 odd levels
- pattern gets invalidated if weekly close is below 12430 odd levels

Take care & safe trading...!!!





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Comment:
Notice the zone of 12830-12874

How it acted as minor resistance intra day and then later the same zone provided support.... Levels working to perfection...

Enjoy

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