Tag Archives: tcs

Nifty Above 8820 Finally, Now Where Is Nifty Headed?

Where Is Nifty Headed

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