Nifty:9860 may retest support or re-enter in to pattern Sup 9200

Nifty made a nice move and reached 9890 a 100 point below our long awaited target 9990.
As we all know, the world cue remain negative, Dow was negative by-2.55% ,and SGX traded on Friday made a huge fall. At this point we expect the unexpected and see what is the impact on Nifty in coming days.

Technically we have strong support at 9390 as mentioned in the previous post, also we have Trend line support at 9200, below which Nifty will fail to maintain the up move and will come down to 8650 & 7500 level.

1) if trading above 9600 Resistance will be the upper trend line and the GAP, near 9700-9730.
2) if trading below 9500 Resistance will be 9600.
3)If trading below 9300 expect a bounce to 9400 - 9500.

First Support 9390
Second support level 9200

Comment:

Two things:
2) this was to read: if trading above 9500 resistance will be 9600.
ok no problem, any way it may be useful today.

The expected bounce may happen today. Wait for 9450 and if cross 9500 we may see 9630

Dow made a nice recovery. SGX is positive 150

Comment:

'"Technically we have strong support at 9390 as mentioned in the previous post, also we have Trend line support at 9200, below which Nifty will fail to maintain the up move and will come down to 8650 & 7500 level"'

we are going to see 9000 soon

Comment:

9044 made babottom. Now the stimulus will work out for the next jump. SGX is trading 95