KumarAbhilash

nifty- what next?

NSE:NIFTY   Nifty 50 Index
471 views
7
471 6
currently trading at imp trendline . if breaks will take support at 10050
Comment:
Comment:
NOW SUPPORT SHD ACT AS RESISTANCE 10600 (RESISTANCE)
Comment:
like said 10600 acting as strong resistance
Comment:
Comment:
again took 10600 resistance ..


I think it is now at support 10500 +/- 30 points spot. from here, I expect a rally upto 10700 - 10750 levels.
please share your views.
Reply
@hotpot64,
quite possible its hard to comment but those who shorted in morning at 10600 gained preety good
Reply
hotpot64 KumarAbhilash
@KumarAbhilash, yes it's hard to predict clearly, I was not expecting such a severe fall within a week, a sort of fall like 2008. If today's close 10476 broken then 10250 and below 10250 I will be bearish.
Reply
Gururajr hotpot64
@hotpot64, daily and weekly mip is still not broken and hence one can be bullish on the market even now..once these are engulfed, naturally the trend would change and take the market lower. My take is the market may have a fakeout at 10033 or so and then move up, consolidate and then move up..the 10703 dsz may not easily be engulfed..
Reply
SR LINE IS AT 10530 at which price nifty turned up
Reply
it may not go up...we may have a gap up start but unless the dsz at 10700 (distal line) is taken off, it may act as a trap. It may open up and come down. This is my take.
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