NeeteshJain

Nifty touched 8000 Support Levels and Retraces Back

NSE:NIFTY   Nifty 50 Index
It is been observed that the price action touched the strong support levels at 8000 levels and retrace back due to high buying pressure. Now, it is assumed that the further down fall can only be possible if the price action breaks and closes below 8000-7900 levels.

Comments

Neeteshji, since we had this nice bounce, what is your short term personal view?
+1 Reply
NeeteshJain ShanTrader
@ShanTrader, Now I'm waiting for a break and close above 8600-8670 levels on daily chart in order to confirm further up move in the market. Until that happens, I believe it is consolidating. Regards
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ShanTrader NeeteshJain
@NeeteshJain, thank you. I do agree, 8600 hurdle must go soon with a strong close above 01-02 Nov gap. I think tomorrow it should or else we may see a small 100-150 point correction . Your views ?
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Do U mean Go long ?
Reply
@ajayww2, Yes I did. 8000 acting as a strong support where major big buyers are sitting. Regards
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