In yesterday's session nifty formed a Bearish Engulfing Pattern , post that we have seen continuation down move in today's session.
The Candle formed today is a bearish continuation candle , which closed near its low, the only thing to see that it formed a long upper shadow, which that buyers tried to push the prices higher but it met selling at higher levels, and dragged the prices lower.
Now lets look at near-term support and resistance:-
Near term support is at@ 10180-10200 levels- market closed right at this area.. meaning today's happens at support area.
Near term resistance @ 10270, 10300 , 10330.
Tomorrow is going to be an event day as fed outcome will come late night today and gujrat election's tomorrow. we can expect market to volatile tomorrow..
Mixed views for tomorrow...
The Candle formed today is a bearish continuation candle , which closed near its low, the only thing to see that it formed a long upper shadow, which that buyers tried to push the prices higher but it met selling at higher levels, and dragged the prices lower.
Now lets look at near-term support and resistance:-
Near term support is at@ 10180-10200 levels- market closed right at this area.. meaning today's happens at support area.
Near term resistance @ 10270, 10300 , 10330.
Tomorrow is going to be an event day as fed outcome will come late night today and gujrat election's tomorrow. we can expect market to volatile tomorrow..
Mixed views for tomorrow...