Nifty today came back strongly after taking support from Father line of 200 EMA and trendline. The support of Father line will be confirmed if we get a positive and strong closing tomorrow. The supports as of now for Nifty remain at 24790 and 24753 (Today's low and trend line support). If by chance FED will not announce a big rate cut, Nifty may again go support...
As expected 200 hours EMA is proving to be a strong resistance for NIFTY. Unless Nifty can convincingly close above it further journey will be difficult. Tomorrow again Nifty might consolidate a bit later in the day Nifty might try to cross 200 hours EMA. let us see if that can sustain. Resistances For Nifty: 17910, 17974 and a very tough resistance thereafter...
If US indices and SGX Nifty don't do well overnight the chances are that few supports on the down side will be tested tomorrow. FII and DIIs both were net sellers today again showing some chinks in the armour of rally which started around 15183. Seems the strength of bulls is exhausted as third day in a row the Bulls could not even touch coveted psychological mark...
Nifty is at a critical juncture. The support and resistance levels for Nifty for the remaining days in the month of August are as under: Resistance Zone: 17719 to 17779. Major Resistance Zone: 17779 to 18118. Support zone: 17349 to 17606. Other Support: 17178. Level beyond which Bears will regain control over the market: 16616 (Major Support). Long Term...
Use this level and buy/sell Nifty future after it reaches buy/sell values
Is Nifty forming an H&S pattern? Tomorrow's trading session is crucial