What Chart Says:
Nifty formed kind of candle today.
Behind the scenes:
Advance to decline ratio is around 35:15 in nifty 50
FII & DII data was not available at the point of review
All European markets were green
Singapore market is up by 0.38 at the time of review
What to expect:
As expected market had a gap up opening due to global bullishness and went a small profit booking. We can expect a possible gap filing to 14982 in case market opens flat to gap down tomorrow.
How to trade today:
1. GAP UP OPENING - First possible resistance is at 15176 and if it is taken out and if it acts as support then we can expect 15238 / 15280 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 15065. Any of these levels acting as a strong resistance can go short with possible lower targets of 14982/14864.
3. Flat OPENING - 15121 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 & LIVE updates.
Happy Trading !