Nifty Opened Gap Up on strong news flow from the US and continued its upward journey throughout the day braking all resistances with ease.
Now on Tuesday Nifty is expected to again open on a positive note. It faces immediate resistance at 2960 and then 2992 which is a very strong resistance. If Nifty future is able to close above 2992, it will be a highly bullish signal for at least the immediate short term.
On the downside, the strong support for Nifty is at 2832. Till the time Nifty stays above this level, this market is a buy on dips.
Intraday traders should try and go short in Nifty Futures as close to 2992 as possible with strict stop loss above 2992 on closing basis. On the downside, one should look to go long near the support levels of 2945 and book profits near 2992.
Nifty Resistance at 2975-2995-3045. Support at 2940-2910-2880.
www.niftypower.webs.com
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment