Nifty closed at previous year high close on friday at 5282 levels which was earlier made on 6 Jan 2010.
It now looks like the markets to fall back in to a tight range for the remaining three sessions in this financial year and a strong move to follow after that.
The 20 DMA will be at 5200 levels in a couple of days and will provide the support moving forward. A consolidation and a retest of 5200 levels would give the rally added strength and any upmove before that would be vulnerable for a strong correction at this stage.
The weekly charts indicate a strong resistance at 5370 levels and it is unlikely for the markets to move past that level in the near term.
The levels to watch out for the week. Resistance at 5311, 5370 and Support at 5187 and 5137
The levels for today
Resistance levels : 5294, 5311, 5336
Support levels : 5275, 5256, 5235
-
Happy Tradingwww.tripleint.com
No comments:
Post a Comment