As predicted for Monday, "Nifty over 2875-2880 can achieve 2920-2940 on MOnday/Tuesday itself."
Nifty flared up smartly getting support from the bulls at all resistance levels. Above 2880 it sparked a short covering rally taking it to day's highs near the end of the session.
Now, the next hurdle for Nifty to cross is 2950-2960. Some more shorting as well as profit booking can emerge near these levels.
For Tuesday, we will have a flat to negative opening. Traders will also want to play it safe before the big news announcement comes from the US. Hence, we can see some selling pressures at higher levels.
On Tuesday, one should wait and see if Nifty sustains over 2900. If it does, positional players can hold on to their longs. Intraday players should lokk to go short near resistances at higher levels (2940-2960).
Nifty resistance at 2925-2960-3000. Support at 2900-2880-2855-2825
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment