A remarkable comeback
Nifty future made a remarkable comeback last week.
For the week ahead, which is the expiry week, nifty balance point is placed at 5635.
Immediate resistances for nifty are placed at 5720 and 5765 as depicted in the above chart.
Immediate target for nifty appears to 5804 as it is the fibonacci confluence zone.
Above 5815 nifty could move to 5890 and 5930.
Support for nifty is placed at 5550 and 5500 levels.
Break below 5455 is needed to jeopardize the up-move.
In such a scenario nifty will move down to 5370 and 5290.
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
Nifty future made a remarkable comeback last week.
For the week ahead, which is the expiry week, nifty balance point is placed at 5635.
Immediate resistances for nifty are placed at 5720 and 5765 as depicted in the above chart.
Immediate target for nifty appears to 5804 as it is the fibonacci confluence zone.
Above 5815 nifty could move to 5890 and 5930.
Support for nifty is placed at 5550 and 5500 levels.
Break below 5455 is needed to jeopardize the up-move.
In such a scenario nifty will move down to 5370 and 5290.
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