Nifty recovered from the day's low of 4788.95, more than 100 points, and closed at 4891.45 with a gain of 21.25 points. Though after several days, Nifty has seen some kind of strength on Friday, but still Trend is down and we may take it as reversal only if Nifty cross atleast 4970 with volume.
For today, WATCH 4910 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4930 AND 4950 ON THE UP SIDE WHEREAS BREAKING 4882, NIFTY MAY HIT 4850 AND 4830 ON THE DOWNSIDE.
For today, WATCH 4910 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4930 AND 4950 ON THE UP SIDE WHEREAS BREAKING 4882, NIFTY MAY HIT 4850 AND 4830 ON THE DOWNSIDE.
From options data,,highest options base has been shifted to 4700 put and 5200 calls. However, as of now 4780/4800 may act as support and 5000 may act as resistance. 5200 (AFTER CROSSING 5000 & 5100-5110) will act as STRONG resistance.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.