Nifty, after reversing from weekly resistance as specified in this column at 5345, today fell to first retracement level of 5206.
Tomorrow is F&O expiry day and it promises to as volatile as ever.
Break below 5178 will be disastrous for nifty future as it could easily move down to 5163 and 5125.
The fall should be arrested at 5110 level which is confluence of support levels.
On the other hand reversal from 5190 levels will take nifty future to 5220 and 5240.
5270 will indicate a comeback of sorts by bulls and the index should easily move to 5300.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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