Nifty' formed a Hanging man at the resistance area, the indicators are over bought but it doesn’t show any kind of weakness. MACD is also looks Bullish. This week I am expecting nifty' to touch minimum 10590. Short term support is 10426, below which 10330 is the breakeven point for a medium term perspective. 10330 is the 38.2% correction of the last swing from 10124. Trading below that level, we must be cautious for a Correction towards 10166.Remember we are in wave 3 and so far, all the correction hold around a 23.6% limit.
Nifty: 10453
Above 10469 today’s Resistances are 10479 10495 10511 10521
Below 10436 today’s Supports are 10426 10410 10394 10384
Weekly Pivot: 10413
Weekly above 10504 Nifty’ Resist: will be 10536 10588 10640 10672
Weekly below 10401 Nifty’ Supports will be 10369 10317 10265 10233
Monthly Pivot: 10184
Monthly above 10440 Nifty’ Resist: will be 10505 10609 10714 10779
Monthly below 10231 Nifty’ Supports will be 10166 10061 9956 9892
Nifty: 10453
Above 10469 today’s Resistances are 10479 10495 10511 10521
Below 10436 today’s Supports are 10426 10410 10394 10384
Weekly Pivot: 10413
Weekly above 10504 Nifty’ Resist: will be 10536 10588 10640 10672
Weekly below 10401 Nifty’ Supports will be 10369 10317 10265 10233
Monthly Pivot: 10184
Monthly above 10440 Nifty’ Resist: will be 10505 10609 10714 10779
Monthly below 10231 Nifty’ Supports will be 10166 10061 9956 9892