Today Nifty opened gap up with positive global cues by 85pts to 7080 level, and extends positive momentum through out the day, In first half Nifty succeeds to cross 7127 (i.e. 38.2% of current correction starting from 7535 to 6875), we have seen some profit booking in longs at level of 7200 in last hour. Finally end up with 168pts gain at 7158.
For Tomorrow, If Nifty crosses & sustains above 7206 levels (i.e. 50%of current correction starting from 7535 to 6875) it will be in positive trend for short to medium term & will see some huge short covering above that levels too. above side major Resistance will be 7282,and down side nifty may take support of 7030 levels.
Positional traders can hold short position with stop loss of 7285 in futures.
Thank you for visiting my blog, If you have any query please comment below
For Tomorrow, If Nifty crosses & sustains above 7206 levels (i.e. 50%of current correction starting from 7535 to 6875) it will be in positive trend for short to medium term & will see some huge short covering above that levels too. above side major Resistance will be 7282,and down side nifty may take support of 7030 levels.
Positional traders can hold short position with stop loss of 7285 in futures.
Thank you for visiting my blog, If you have any query please comment below
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