Clearly written yesterday that although the technical scenario is looking good but do not be over bullish, since fundamentals do not support much and the ongoing logjam in parliament is not helping either.
Today Nifty future
made a high of 5406
and low of 5358
As clearly told in previous posts that breach of 5380-75 will show
5355 and today it kissed 5358.It was not able to cross yesterday's high of 5414 and crashed thereafter.
Now What Next?
Now keep an eye on 5344 below this will kiss 5330-20 on downside...and any breach below that will show 5290-50.
On higher side keep an eye on 5368-70, above this will zoom to kiss 5385-95 and if sustains above that will try to kiss 5415-40 also.
Now Levels are:
For very short term :
Support at: 5347-5330-5310
Resistance at : 5385-5400-5420
For medium term :
Support : 5340-5320-5290
Resistance : 5400-5440-5480
Below is the daily chart:
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