Yesterday's move was very much inline with the prediction of being indecisive and for most of the morning session it was trading in red and turned green towards the end. This has kicked off a new momentum and the level of 4620 is likely to be breached at the open itself.
Any significant break of 4648 levels will bring in another round of short cover and can then push NIFTY to 4800 levels in the interim term.
The three day volume has remained low compared to what it was during the move from 4200 to 4500 levels and now it is a clear consolidation.
So today again a green close is expected, but what will unfold next week is unclear at the moment.
Resistance levels : 4620, 4648
Support levels : 4548, 4515
Happy Trading
www.tripleint.com
No comments:
Post a Comment