Today Nifty opened gap down by 85pts to 7305 level, and during
the day Nifty was consolidated between narrow range of 7300-7350, we have seen
some profit booking between those levels too. And finally end up closing above
7300 level, overall the day was boring.
For tomorrow If Nifty manage to cross 7375 level in future
we may see some short covering from those levels, for swing traders time to book profit above 7375 in futures & initiates some longs with Stop loss of
7290. We may see 7440 upper side, Trend will remain Negative
till it sustains below 7375. For down side if nifty manage to break 7290
levels, 7204 will can’t rule out for short term or intraday itself.
So, it’s advisable to book profit above 7375 levels in
future, or hold short below these.
Support - 7250, 7210 Resistance – 7375, 7424
Thank you for visiting my blog. May you have profitable trading day.
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