On Wednesday, Nifty faced stiff resistance at our resistance level of 3720 and corrected more than 100 points from there intraday to close near 3640 levels.
The movement Today and Tomorrow will be crucial for Nifty as it will decide whether we are going to make new highs above 3800-3850 or there is going to be a deeper correction of 10-15%. Trade with strict stoplosses on both the days and dont carry home any positions.
Thursday Nifty is expected to open in the green. Intraday players try to go long near 3625-3605 if they get an opportunity. Aggressive traders can short Nifty at higher levels near 3700 levels for quick gains. However, be quick to book profits in any short positions. Dont remain short above 3700. If Nifty is able to sustain 3720 today, we will see 3750 today itself. Below 3600, we will see 3560.
Nifty resistance at 3675-3725-3760. Support at 3625-3605-3570
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment