It was a very strong up move in the first day of the new series. The trend seen was so strong and is pointing that this up move is going to continue.
In any case, earlier, 4450 has been established as a very strong resistance and in my opinion, that should not be easily broken on the upside. It is also the level where the 20 DMA has been residing for a while and would offer a good resistance.
If this market breaks 4450 on the upside and moves to 4490 levels, then the uptrend might continue. Any reversal from 4450 will bring in strong weakness.
Resistance levels : 4428, 4450, 4490
Support levels : 4355, 4312, 4289, 4256
No comments:
Post a Comment