Showing posts with label Daily Levels. Show all posts
Showing posts with label Daily Levels. Show all posts

Daily levels

as expected in last session nifty moved upward till 7950 and there on it reversed and consolidated whole day around 7880-7930 range 
  
Now it looks like some kind of wave 3 or 5 was completed at yesterdays high and nifty now preparing for good fall at least 200-400 points in coming session ,By seeing the graph nifty most probably completed its up move or only one top above yesterdays high was pending.

Conclusion: 

Nifty preparing for fall of minimum 200-400 points as explained above.
So, longs need to to be exited at these levels as have to create short position for next month a explained above
Levels to watch on upside 7950 8000 8080 which will act as a strong resistance on upside
Levels to watch on downside 7870 7830 7800 which will act as a strong support on downside




Daily levels: 

Nifty started some kind of impulse from the the levels of 7517 and there on it continued its up move till last session without any reasonable correction in between and  last session it gave correction within 15 minutes of market opening
It seems like some kind of wave 3 maybe completed at 7909 level on last session and from there it corrected around 70-80 points which may be wave 4 and nifty currently in wave 5.And wave 5 can go maximum up-to 8010,without breaking 7843 level to became wave 5

Conclusion:

 Expecting nifty to continue its upward journey for time being as explained above.
Level to watch on upside  7950 7980 8050 8080 which will act as a strong resistance
Level to watch on downside  7830 7750 7670 7600 which will act as a strong support on downside