On 8th Feb 2013 we said@
Last final support for Nifty as of now at 5857/5850, Only below this avoid Nifty till then bounce expected.
Our first support level for Nifty was given at 5932/5906 where we expected the market to bounce where it went below 5900 and closed at 5903. Its fine and wish it bounce from Monday where on further downside 5857/5850 hold last tight support for Nifty or we can say that its the last reliable support level for Nifty to bounce and that too a big bounce.
Closing below 5850 should be a clear cut avoid for Nifty because the next support is somewhere 90/100 points lower so trade accordingly.
Going higher it faces resistance at 5992-6017-6134/6143
Last final support for Nifty as of now at 5857/5850, Only below this avoid Nifty till then bounce expected.
Our first support level for Nifty was given at 5932/5906 where we expected the market to bounce where it went below 5900 and closed at 5903. Its fine and wish it bounce from Monday where on further downside 5857/5850 hold last tight support for Nifty or we can say that its the last reliable support level for Nifty to bounce and that too a big bounce.
Closing below 5850 should be a clear cut avoid for Nifty because the next support is somewhere 90/100 points lower so trade accordingly.
Going higher it faces resistance at 5992-6017-6134/6143
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