Last to last week Nifty showed a very big weekly gain for quite sometime since past many months. This week ended Friday was a good follow up on that gains. Nifty is now poised for moving higher from here on.
The bulls are looking to take full control and expect Nifty to show 5160/5180/Higher this week. It faces serious resistance @ 5180/5200 and may turn down from there.
On the lower side, it has strong supports at 5120/5100/5070.
This week would be very crucial for the future direction of the Indian markets. If Nifty is able to cross 5200 decisively and keep its head above this level, 5400 would be quickly possible.
The current up move has its foundation support at around 4800. The current levels are good times to start building a long term portfolio with this base in mind. Every down turn must be used as an opportunity to accumulate good stocks and value buying.
Of course, stop loss cannot be ignored in any position that you trade.
The bulls are looking to take full control and expect Nifty to show 5160/5180/Higher this week. It faces serious resistance @ 5180/5200 and may turn down from there.
On the lower side, it has strong supports at 5120/5100/5070.
This week would be very crucial for the future direction of the Indian markets. If Nifty is able to cross 5200 decisively and keep its head above this level, 5400 would be quickly possible.
The current up move has its foundation support at around 4800. The current levels are good times to start building a long term portfolio with this base in mind. Every down turn must be used as an opportunity to accumulate good stocks and value buying.
Of course, stop loss cannot be ignored in any position that you trade.
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