Nifty: Support 2770/2725/2660/2620
Resistance 2828/2856/2899
View: Nifty Fut corrected again from highs & made a low of 2728 after announcement of IIP data..
Now, we have summarized following things after examining Nifty Trend channel on a "Broader View" of 14 years channel (From 03/01/1994 to 06/01/2009).
Brief Summary For Nifty On Downside:
1) Nifty now nearing immediate strong support of 2620. (Be cautious for your shorts)
2) Sustaining below 2520 , will lead to more fall, with October lows acting as immediate support in between.
3) 1919 will be a greatest support of all, as it was the breakout point of previous bullish channel.
(Above view is totally expressed on studying Charts, Hope to serve you with Best.)
Today Nifty may again open gap-down with 25-40 pts as Nasdaq closed -2%
& Nikkei opened -4%....
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