As I said two days before that I am quite bullish and buy on support line of 4800 but that day It made me confuse as it had just closed above the support line and the decline was decessive and the globle markets were also so weak but the chart is always right and my sense donot always be right also today also the given target was achieved and nifty able to hold 4950 levels strongly and with the help of globle support nifty managed to closed above 5000 levels now it shall be facing resistance at 5050 and also being weekly closing it shall be important for the market to close above 4935 levels and if closes above 5110 levels bulls shall win the game but if trades below 4943 levels it shall become week and can again drifty down while nifty shall remain bullish above 4971 levels with the target of 5044 – 5090 – 5163 levels with the stoploss of 4943 so if mkt gaps up near 5044 wait for the first pull back and then buy as hourly charts shall become overbought above 5050 levels and may stay on sideline throught out the day or drift to 4950 levels also tomorrow being 1st day of june series now the next target comes is near 5090 if nifty follows our channel which is the resistance, so if long book profit at channel resistance and buy on decline if 5050 is crossed. Excepting rally to continue if close is above 5000
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