In my previous Nifty update had suggested Nifty support around 19625-19571
Nifty made a low of 19601 and recovered to close flat for the day
It has formed a Doji candle. SO a pullback cannot be ruled out.
Going forward watch out for levels of 19760-19820 on the upside. It may act as resistance.
Closing below 19551 may increase probability to test the recent lows of 19223 odd levels and if that level is broken then probably Nifty could test 18800-18600 odd levels.
Take care & safe trading...!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Nifty made a low of 19601 and recovered to close flat for the day
It has formed a Doji candle. SO a pullback cannot be ruled out.
Going forward watch out for levels of 19760-19820 on the upside. It may act as resistance.
Closing below 19551 may increase probability to test the recent lows of 19223 odd levels and if that level is broken then probably Nifty could test 18800-18600 odd levels.
Take care & safe trading...!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Doji candle showing it's magic.
The important levels still remain the same
Resistance around 19750-19820
Further weakness only if 19551 is broken decisively.