Markets consolidated and formed a perfect doji yesterday as predicted. Will this continue today also?
After looking at the intraday pattern, it is very clear now that a powerful bull trap has been made at 4275 levels and this markets might struggle to move past that level. If that trap is nullified and NIFTY closes above that, then it is going to run up all the way to 4475 levels soon.
But currently the pattern doesnt suggest that. There might be a strong pull back atleast of the order of 2.25% to retest the levels of 4135 soon.
It is again clearly a cat on the wall situation and I dont have a strong view right now as had been for the past few sessions.
Resistance levels : 4283, 4314
Support levels : 4190, 4165, 4135
-
Happy Tradingwww.tripleint.com
No comments:
Post a Comment