A pull back was expected last week and went up to 9947, the correction now has taken as impulsive form. But the pullback was little bigger than expected. It almost regained 58% (262/452) of the fall from 10138. Normally a pullback greater than 50% is considered to be a sign of recovery. But all the indicators are showing a corrective nature. This week do not expect any upside. But a trade sustain above 9855 can give some hope.
Above 9855 today’s Resistance are 9880 _9910 & 9940
Weekly above 9873 Nifty’ Resistances will be 9915_9932 & 9990
Weekly below 9800 Nifty’ Supports will be 9760_9685 & 9627
Monthly above 9828 Nifty' Resistances will be 9912 (broken and returned)
9912 was matching 50% pullback (9685+226)
Monthly below 9777 Nifty' Supports 9696 & 9590
Above 9855 today’s Resistance are 9880 _9910 & 9940
Weekly above 9873 Nifty’ Resistances will be 9915_9932 & 9990
Weekly below 9800 Nifty’ Supports will be 9760_9685 & 9627
Monthly above 9828 Nifty' Resistances will be 9912 (broken and returned)
9912 was matching 50% pullback (9685+226)
Monthly below 9777 Nifty' Supports 9696 & 9590
Comment:
:D
Comment:
Nifty still remain at the first resistance area and 9884 was top this week.
Signal are remain bearish, and it is time to short at every top.
The stop is bit high at 9948.
Signal are remain bearish, and it is time to short at every top.
The stop is bit high at 9948.