View: A 35 points up move from the benchmark Nifty
in today’s session to post a close at 15,869. Thanks to this move the underlying short term trend now turn UP, again. Now the big deal going forward is how well the index deals with the immediate resistance of (15,900-15,930). This has been a proven range of resistance and so the index will need some fresh momentum to break above a set a new life high. On the downside, 15,800 is the immediate short term support for the index and as long as this level is not breached maintain a bullish
bias with an anticipation of a new life high. Keep a closer watch on the banking and financial stocks.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.