NIFTY WEEKLY
As seen in the chart there is a significant amount of resistance coming g at 5200 and this resistance is made stronger by the fact that volumes have been declining on the rise. So longs should be careful near the 5200-5225 area as it’s a potential profit taking mark for nifty
Also as seen in the past the nifty on weekly chart has bounced off from the weekly Bollinger band average, so bulls can expect support at that average which now lies at 4837. So if one believes in buy on dips for a quick trade 4840-4850 is the area to buy if nifty does come to that area .
No comments:
Post a Comment