Tag Archives: nifty next move
Last trading day Nifty have finally closed above its short term resistance mark of 8820. Last Friday Nifty opened close to 8900 and tested 8820 from there on the downside, bounced up and retested 8820 again and finally managed to close at 8821.70. Now where is Nifty headed? Is it a breakout from the range?
Aparently it looks like a breakout from the range, still last day’s bear candle does not support a bull run either. The inherent bias is still UP, so buy on dips may be the strategy but
After 26th December 2016 India’s Nifty index is continuously on a upward bias and the index has shown a strong rally of more than 550 points within less than a month. Now last trading day’s move denoted that the uptrend is in a hault. So its time to analyse Nifty next move.
In an upward rally we try to find out where are the resistances and similarly in a downtrend we need to analyse the support levels. For immediate trading we suggest to add to puts to our readers. If you want to know