Nifty: Resistance 5735/5777/5805/5840/5888
Support 5715/5680/5660/5630
Indian benchmarks rallied on Tuesday after Monday’s flat close on the back of good third quarter earnings from TCS and strong European cues. Financial , IT & Metal companies moved Nifty above 5700 and the Sensex above 19,000.
On the daily chart, the Nifty [spot] is trading below its 20 DMA and 40 DMA i.e 5938 and 5924 respectively, which are crucial resistance levels in the short term. Nifty now important support around 5680 and immediate resistance around 5735-55
Expect nifty to open +ve & wait for either of above mentioned levels to break for further movement.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment