After cracking up down to 5839, the nifty did manage a comeback on account of shorts being covered on Friday. The tipping point for the day is at 5868 and if Nifty manages to trade above this point then the immediate resistance is at 5882, 5888 and 5917. On the flip side if Nifty slips below the tipping point then the immediate support is at 5857 and then at 5823 and 5805.
Our outlook for today is that the charts suggest a little more weakness and consolidation before resumption of upward trend. The overall bullish structure is very much in place.
Our outlook for today is that the charts suggest a little more weakness and consolidation before resumption of upward trend. The overall bullish structure is very much in place.
No comments:
Post a Comment