Here's a profile chart of the Nifty action of today.
We see :
- A strong open drive from 5444 to 5512
- A p shaped profile pointing to short covering in the market
- Minor selling at 5558
For tomorrow :
- Immediate support will be at 5501
- Resistance at 5558-5564
- Above 5564, NF can do 5594
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5 comments:
chances of opening above 5564 higher - in that case, will it go straight to 5594 or retreat a bit?
@ Janak,
we will be trading in a treacherous zone today.
Bears will get alarmed on every point move higher from here and bulls will see it as an intermediate term opportunity over the next 50 points 5550-5600.
Watch PP0 at 5547 for the trend to remain upwards.
opening at 5560? BN?
Hi Shai,
You said r 5564 s 5501
at 1:30 H 5568 L 5505
Great!!!
all the best.
Thanks Moh.
I commented on NF June prices. Chart is Nifty June future
High has been 5558/ Low at 5491.
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