Nifty was stopped on its way up with a sudden delivery based selling in "Hindustan Unilever". More such "delivery Selling" can keep Nifty under pressure..
Trading below 4550 is the first sign of weakness for tomorrow with supports likely to be 4530-4495.
"4580-4600" continues to be resistance and supports are rising everyday which may make the "Break down" easier..Trade with proper Stop losses..Or step back and allow the index to decide on the
"range break out"..(<4600-4528>)
If 4485(10DMA) -4505-4525 area holds, further upmoves possible. Sofar, every intra day dips have been used for short coverings..Looks like "shorts are not finished yet..!!"
Trading below 4550 is the first sign of weakness for tomorrow with supports likely to be 4530-4495.
"4580-4600" continues to be resistance and supports are rising everyday which may make the "Break down" easier..Trade with proper Stop losses..Or step back and allow the index to decide on the "range break out"..(<4600-4528>)
If 4485(10DMA) -4505-4525 area holds, further upmoves possible. Sofar, every intra day dips have been used for short coverings..Looks like "shorts are not finished yet..!!"
2 comments:
Just wanted you to know that your blog is part of my blog list now.
http://learnandteachstocks.blogspot.com/
Hi..S S Cheema,
You have a good blog. And Thank you.
ilango
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