Markets never touched the key resistance (10070) mention in above post. The weaker bulls could not sustain the up move, and after a small it broke down the channel support too and closed on notes.
Strategy for tomorrow
Bearishness Continues: If market opens with a gap down or opens flat, trades in a range of 10025-9998 and then breaks this range, then there are chances that it may touch 9950 levels. The extended target for tomorrow would be 9920.
Gap Up: In this case market opens with a gap up (first trade inside the channel). A gap up opening above 10050 would reflect strong sentiment if it could sustain those levels in the first hour. The targets in this case would be 10080, 10108 and 10120
Let's see how the price action unfolds tomorrow.
As mentioned on the chart, due to inadequate response from the readers I may discontinue daily updates on Nifty from tomorrow..B'coz likes are the only motivation here.
Market reaction near the key 10050 is worth noticing for future plan.