There Is No Doubt That Underlying Momentum Of The Market Is Very Strong. There Is Mad Rush To Buy The Dips; And Buyers Are Coming In Large Numbers To Buy At Defined Support Levels.
There Is Panic Among Buyers And Technically, It Should Not Surprise Anybody If Market Melts Up In Next Few Weeks. Remember, Beyond A Point, Patience Leads To Anxiety; And Action…Greed Is A Very Strong Emotion Almost Equal To Fear.
In The Range: Four Days And Counting..Nifty Is Still In The Range. Though Today’s Action May Make Bulls More Optimisitic About Upside Breakout. One Thing Is Clear…Bears Should Stay Away Till Nifty Breaks 4450 On The Downside. Bulls Can Continue To Hope For The Best.
Above 4580, The Level To Be Watched Is 4625-4649….Highs It Formed In July-August Rally.
Technically, The Market Wants To Go Higher; And It Seems Like It Is Only Matter Of Time Before Nifty Breaks Out On The Upside. TOMORROW WEEKLY CLOSING SHOULD BE ABOVE 4450
· .
· The Main Trend Is Up
- Now We Will Have Bigger Range To Play From 3700 - 4000 – 4670 – 4800 - 5000
- LEVEL FOR THE DAY
- TECHNICAL OUTLOOK :
- Imp Support 4535, Imp Resistance 4645,
- Likely Trading Range 4500-4645,
- Trade on long Above 4500 and Vice versa
- Note :- Please don’t use this levels when gap up or gap down. Also either side band is breached shall show breakout in either direction, and close above / below the intra band shall continue with the same trend for next day and can continue for for BTST OR STBT.
SHORT TERM BUY RECOMENDATION :
- IDBI CMP 99.25 SL 83 TGT 107 - 115 - 127
- DISCLAIMER : READ BELOW IN BLOG
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