As indicated in our post yesterday, the resistance of 5900 did hold as the market returned from 5899.15.
The tipping point for today is at 5875 and the Nifty will have to trade above this point consistently to resume the upward journey. 5884 is the immediate resistance above which Nifty will see resistances at 5896, 5920 and 5941.
On the flip side, if it trades below the tipping point of 5875, then it will find support at 5862 failing which it will slip down to 5849 and 5827.
Our outlook for today is that the bullish structure is well in place and charts suggest continued optimism.
The tipping point for today is at 5875 and the Nifty will have to trade above this point consistently to resume the upward journey. 5884 is the immediate resistance above which Nifty will see resistances at 5896, 5920 and 5941.
On the flip side, if it trades below the tipping point of 5875, then it will find support at 5862 failing which it will slip down to 5849 and 5827.
Our outlook for today is that the bullish structure is well in place and charts suggest continued optimism.
No comments:
Post a Comment