ifty as anticipated gave a good pull back and closed a bit above the 100 day EMA as also the congestion resistance level of 5065 - 5075 mentioned yesterday. This now opens up the possibility of a move to 5140 and above that next level of resistance shall be around 5205. Nifty PCR for yesterday came in at 1.39
US markets surged on back of Jobs data numbers and hence SGX Nifty is showing a possibility of markets opening well above 5000 and possibly near the resistance of 5140 as mentioned above. Counter trend traders can take a risk of shorting the market if it opens with a strong gap with a stop of around 5150 with the hope that the gap open will get filled later during the day.
Short Term trend remains slightly bearish.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment