Markets never move in a straight line. The 58-point open-close move we saw yesterday is just the beginning of the correction. MT, the market is still headed further south.
Thanks Mano. I love reading charts and interpreting them. I just happen to take a hobby and something I love and converted it into my job. Nifty is the main market of choice in this forum, so that is another reason I follow it.
DO any one notice DOW likely to make double bottom at 10640 .... i am closely watching it if this level get breaks down then all the world market is in for big sell off my next level for DOW is 10020 and 9670 ....!!
As expected today, Nifty closed at 4899, well above the 200 Weekly MA of 4836. Nifty may test 5015-5100 on this upmove. Caution is advised below 4883-4845 which is the SL for the longs. Close below 4836 is disaster for Nifty.
Support for tomorrow : 4883-4860-4845
Resistance : 4917-4945-4960