Technically the market has generated as sell but when I look at the indicators, it gives an impression that a sharp reaction is not ruled out as the market is still in a typical sideways zone. The market unfolded flat as expected and in a very typical sideways zone.
The coming trading week heads into an F&O expiry week and the market has established a strong support at 6,000 levels. I would say 6000 is a crucial level (Make or Break level) and the market is expected to find stiff resistance around 6200 levels.
From a trading point of view I would continue long as 6,000 holds and on the upside I would have logical target at 6,325.
The coming trading week heads into an F&O expiry week and the market has established a strong support at 6,000 levels. I would say 6000 is a crucial level (Make or Break level) and the market is expected to find stiff resistance around 6200 levels.
From a trading point of view I would continue long as 6,000 holds and on the upside I would have logical target at 6,325.
Ref : Nifty Technical Views
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