Nifty future traded as per our expectations last week.
Last week' article can be accessed here.
For the week ahead Market Balance Point for nifty future is placed at 6025.
Nifty will get resisted at 6075 and 6105.
These are Fibonacci confluence resistance and expected to provide strong resistance.
6140 is the weekly break out level . Above this level nifty is expected to out perform
and move to 6190, 6220, 6240 and 6290.
On the downside, strong support for nifty exists at 5975.
5940 is a long term pivot support.
Nifty will play into the hands of bears if it breaks 5915.
In such a case nifty will crack to 5865 and 5820.
It promises to be an action packed week with explosive moves on both side.
We will be tracking day by day movement here at JerryTechnicals.
Everyone is invited !!!.
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
NEXT: Bears the Menace
2 comments:
Levels for balancing of Nifty given is correct ??? 5025, resistance 5075, 5105..
Should Be 6025, 6075, 6105..
Thanks
Thank you for pointing out the error
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