This week expect Nifty to remain week. As indicated in my post dated 16 April 12, we are now in a bear market and any up move must only be used to get out of all long positions, including delivery stocks. This is surely not the time to average as coming weeks and months may show lower levels.
This first support for Nifty on the downside is at 4900-4880 zone. There after 4830-4800 are the only supports. Expect free fall once these supports are broken. On the upside, Nifty faces resistance at 4990/5050/5080.
As long as we trade below 5150, trend remains down and mood bearish.
This first support for Nifty on the downside is at 4900-4880 zone. There after 4830-4800 are the only supports. Expect free fall once these supports are broken. On the upside, Nifty faces resistance at 4990/5050/5080.
As long as we trade below 5150, trend remains down and mood bearish.
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