Those who would have read last day's analysis and nifty analysis on weekly charts earlier may have known that 5395-5400 was major areas of resistance,
and if you have gone short around 5385-90 with stop loss above 5400, imagine money you would have made in 5 mins only. This is the important of levels in trading.
I even initiated a sell call on nifty at 5369 with stop loss 5400, it made low of 5350 first and then climbed to 5394 ultimately again crashed to 5343 levels.
Now Nifty almost scaled the level of 5400, nifty fut hit high of 5394 today.
Now for very short term
Support at: 5335-5308-5290
Resistance at : 5365-5395-5400-5429
For medium term :
Support : 5270-5240-5210
Resistance : 5395-5430-5450-5490
For tomorrow's session keep an eye on 5335-30, break below that will take it to 5308-5290.
on the higher side it should cross 5380-85 levels then may rally towards 5400-30, but looks difficult for tomorrow as many short positions were built today afternoon.
Hi Mr Singh,
ReplyDeleteI just would like to know how do you publish your links in money control forum. Do you pay for that?
no sudarshan....i post them simply as such....i think as i am giving all analysis free of cost and not charging anything, so nobody has any objection to that..
ReplyDeletealso technical analysis is my hobby, so whatever i analyse i put it on blog for the benefit of others, as i know pain of losing money running after different tips.
maybe mmb can block me...but thats ok...those who will benefit will continue to come here...
i will keep pursuing my hobby seriously
thanks
Please visit my new blog www.tipstooption.com You can see a lot more in that blog as days progress
ReplyDeleteNice initiative, keep it up :)
ReplyDelete