The last trading session saw some erratic moves with increased intraday volatility towards the end.
There has been increase in volume for the past few sessions and Nifty has formed a doji at the top.
Any move below 5046 would bring in bearishness and during this week, Nifty might also cool down to retest the 20 DMA which on extrapolation is at 4905 levels today and will be around 4956 in a couple of sessions and that should act as a strong intermediate support.
The PCR ratio is at 1.16, not signifying any major skew at present, though it indicates adequate support for the markets to be coming in at every fall and it is not likely to correct significantly beyond 4950 levels.
Resistance levels : 5097, 5122
Support levels : 5046, 5020, 4999
-
Happy Tradingwww.tripleint.com
No comments:
Post a Comment