NIFTY FUTURE OUTLOOK
As written in this column, nifty future reversed from resistance and fell in a straight line.
For today's trading, pivot remains at 5596. Resistance is placed at 5630.
I have mentioned this before, there is a lot of fibonacci confluence resistance at 5640 level.
Only if nifty trades above 5647, further upmove can be expected.
In such a case it can move to 5667, 5687 and 5700.
Reversal from pivot or resistance can take nifty future to 5560 which is strong support area.
For nifty future to be weak, it must break and trade belwo 5545. In such a case bears will hammer
nifty to 5525 and 5500.
NEXT: Reversal from resistance
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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