Since long we have been talking of 5170 level for Nifty as an important support and we saw taking it support over there on many occasion & every time it closed above it. Well now as it closed below 5170 I'll maintain a cautious approach. Even on any upside I believe its a sell on rise only as long it doesn't close above 5170/5220. On the downside I believe it got strong support around the 4940 mark and I see good buying emerging around those levels. We have given both side approach so that one can trade accordingly. Oil and Brent crude corrected substantially which is positive however the weakness of Rupee against USD is taking away all its shine. If Rupee gets stronger against USD and Crude continues to correct further from here will be taken very positive.
About Me
- Manish Bothra
- Kolkata, India
- Disclaimer: This Blog, its owner, creator & contributor is not a research analyst and expressing opinion only as an Investor in Indian equities .He/She is not responsible for any loss arising out of any information, post or opinion appearing on this blog.Information or stock recommendations contained in this blog are for educational purposes only. Investors are advised to consult financial consultant before acting on any such information. Before acting on any old recommendations, please ensure its relevance in current circumstances.
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