The charts had indeed been predicting bullish move since the last two trading sessions and we had been indicating the same in our earlier posts.
Today is settlement day for November series and so nifty may show some volatility. The tipping point for today is at 5706 and continued trading below this level will see Nifty go down to 5679. The critical support is at 5645 below which all the recent profits might get wiped out.
However, our outlook for today is that it is unlikely to break the support at 5645 and might as well trade with a bullish bias with resistance at 5755 and then at 5781.
Today is settlement day for November series and so nifty may show some volatility. The tipping point for today is at 5706 and continued trading below this level will see Nifty go down to 5679. The critical support is at 5645 below which all the recent profits might get wiped out.
However, our outlook for today is that it is unlikely to break the support at 5645 and might as well trade with a bullish bias with resistance at 5755 and then at 5781.
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