Very Important Support for the market is 9850. Market is showing signs but too early to put down anything & shall be confirmed once it starts moving above 9925 & 9950 then likely we have good chances of a new high above 10138 highs.
If Nifty opens above 9925 - This Intraday Setup invalidates & we close the update.
Wow- all green extremely bullish.
Market Opened gap up above 9925 - Bearish Setup invalidates. Falls to 9910 & Bounces crossing 9925 - 1st bullish confirmation & 9950- 2nd confirmation done.
Now every pullback if we get holding 9850 should be used as buying opportunity.
Book Profits at 9963 - Historical Resistance-We look to next attempt to buy at 9910-9912 -at the pinbar candle which was opening candle -every one started buying.
It is doing sideways between 9950- 9963 & 9950 is important level - Price has to dip below 9950 for any further down move.
Next down move only below 9950 level.
Magical Level 9950 - Nifty Turns again upside from 9950 - how important that level is. Nifty has lot of respect for 9950 mark.
Holding 9950 on downside as support - we look for upside move in Nifty which can be close to 10000-10005 Zone next. Likely 40-50 odd points upside.
Even though if it dips below 9950 you should be careful as it could be slight dip & bounces above 9950 that means - bulls are in the market with a force.
We are eager to see some bullish excitement for 10000+ & enjoy the upside move if happens next above 9963 short term resistance level.
Having said that we look upside for 10000 + mark - make sure that your back end is covered means
any move below 9950 can be scary for bulls as later it can dip to 9910 - 9850-9870 Zone downside.
As markets can never move in one direction only.
It is extending it's sideways move. Do not lose patience in trading as market will test the same.
Sooner or later bullish move should start above 9963-9965 as that is immediate resistance.
Also do not put your stops exactly at 9950 else big fishes will eat your stops & then market will bounce back making new highs for the day.
Here we go........
Typing Mistake- It is 9970 instead of 9870.....
9978 is holding hard - Not able to cross - getting rejected - Book & out