22:49
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Gap down opening and sideways movement were witness in Nifty future.
It was mentioned in our 12th June outlook. Nifty move in range around
5800 – 5750, Choppy session were the outcome. Nifty tested the bottom
around 5750 and given a steep rally to level around 5800. But soon
settle to the level around 5780.
As Nifty future manage to close above 5750, which can be good music for bulls. 5820 and 5850, are immediate resistance level for bulls. Market consolidated during the day. But Nifty future if breaks the level of 5850 than the consolidation can become accumulation phase.
Nifty future will find support level around 5740-5710. The IIP data has disappointed and still the long term view is negative but if Nifty consolidates above 5850 in next trading session then it can be time of trend reversal though short term correction happens in bearish trend we can expect trend reversal only when Nifty future breaks the level of 5900.
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As Nifty future manage to close above 5750, which can be good music for bulls. 5820 and 5850, are immediate resistance level for bulls. Market consolidated during the day. But Nifty future if breaks the level of 5850 than the consolidation can become accumulation phase.
Nifty future will find support level around 5740-5710. The IIP data has disappointed and still the long term view is negative but if Nifty consolidates above 5850 in next trading session then it can be time of trend reversal though short term correction happens in bearish trend we can expect trend reversal only when Nifty future breaks the level of 5900.
For more info:-
Stock Tips
Commodity Tips
Equity Tips
6 comments:
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