Though NIFTY corrected about 1.15% yesterday, the expected crash of 5% or more did not happen. Today is the last day of trading without knowing the election outcomes and so there are chances of some FIIs pulling the plug, letting the markets correct significantly.
This has been the expectation throughtout this week. Though NIFTY could not move past the range high of 3720, nor was it able to convincingly break the lower band of 3550. It has been just see-sawing and it has been a tug-of-war of bulls and bears having equal strength. so it 'wait and watch' for one more day with the bearish outlook.
Resistance levels : 3625, 3650
Support levels : 3565, 3520, 3480
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Happy Trading
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