As we saw last week the market remained extremely volatile . We saw a huge sell on Monday & Tuesday later it covered till 17650 followed by a sell off on Friday. The market all around the world continues to be in correction phase with negative news.
NIFTY is currently trading around the zone of 17300-17400 , once it breaks 17300 we may see 17200-17080-16890
On the upper side Nifty is expected to face major resistance at 17450 levels followed by 17700-17800. We are expecting this correction to continue this week
If nifty drags down below 17000 and continues to sustain below that
we may witness 16800-16500-16200 soon
Comment:
17200-17080-16890 DONE
Comment:
WE MAY SEE SOME BOUNCE BUT OVERALL VIEW IS NEGATIVE... USE BOUNCE TO SELL
Comment:
Last week the market remained extremely volatile . Nifty traded betweek 16815 & 16133 on weekly time frame it has made a bearish candle .
NIFTY is currently trading around 16245 ,
IF NIFTY BREAKS PREVIOUS LOW THEN
NIFTY may test 16030- 15950-15850
On the upper side Nifty is expected to face major resistance at 16450-16500-16650.
IF NIFTY STARTS TAKING SUPPORT @ 15900-16000
DONT SHORT, WAIT FOR PRICE ACTION TO FORM SO THAT WE CAN GO LONG
NIFTY is currently trading around 16245 ,
IF NIFTY BREAKS PREVIOUS LOW THEN
NIFTY may test 16030- 15950-15850
On the upper side Nifty is expected to face major resistance at 16450-16500-16650.
IF NIFTY STARTS TAKING SUPPORT @ 15900-16000
DONT SHORT, WAIT FOR PRICE ACTION TO FORM SO THAT WE CAN GO LONG