- Looks like the chart suggesting all,We had rallied from 4720 to 5168 level ans back again towards 5720.Two days in a row nifty made a higher lows above 4720 at 4728 and 4741
- Now to confirm the bottom and move higher Nifty should cross and close above 4891 level,before that little hurdle at 4830 mark
- The double top at 5168 is real hurdle for time being.If we break 4700 and closes below it all bets are off on long side.
- I am just watching a close above 4891 for today to carry forward my positional longs which initiated at 4750
- Even f&o data suggesting strong support at 4700,4800 despite and resistance at 5200 level.
- Watch out Axis bank,Dr Reddy,Hdfc,Larsen,R com to outperform
Best to your trading
Disclaimer:Clients holding positions in Nifty,No positions in Stocks
