Today Nifty opened gap up by 50pts to 7200 levels, but as discussed yesterday couldn't sustained above 7206 level in early trades & we saw pressure from higher levels, In second half nifty extends losses due to heavy selloff in all the sectors leading by PSU banks, at the end Nifty closed negative by 1.56% at 7050 below yesterdays low of 7059 levels.
For Tomorrow Nifty trend remains Negative till it sustains below 7130, Swing traders can initiates short position with stop loss of 7130, Positional traders can hold short position with stop loss of 7210 which is today's high, Down side support will be 7030 levels as discussed yesterday, once that level broken we may see level of 7000 or below in intraday. otherwise range will be 7000 to 7200 for near term. we may see trend based market once mentioned range will be broken.
Support - 7030, 7000
Resistance - 7130, 7210
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For Tomorrow Nifty trend remains Negative till it sustains below 7130, Swing traders can initiates short position with stop loss of 7130, Positional traders can hold short position with stop loss of 7210 which is today's high, Down side support will be 7030 levels as discussed yesterday, once that level broken we may see level of 7000 or below in intraday. otherwise range will be 7000 to 7200 for near term. we may see trend based market once mentioned range will be broken.
Support - 7030, 7000
Resistance - 7130, 7210
Thank you for visiting my blog, If you have any query please comment below
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