As said that nifty could face channel resistance near 5090 and nifty made high of 5077 and closed just at the channel resistance and if nifty shall trade above 5077 or make a new high the swing shall give breakout on upside which shall indicate to buy on every dips with stoploss of 4776 but if nifty not able to make new high on Monday above 5077 the swing shall remain down for upswing nifty is suppose to trade above 5080 levels also nifty has broken the down trendline( marked with blue color in charts ) which indicates that rally has more strength so if globle cues remain supportive we could test 5125 – 5150 leveels in the week ahead but if nifty trades below 5030 levels it shall show weakness and drift it down from channel resistance to the levels of 4988-4961-4915 but till then one can buy the pullback with stoploss of 5030 as today FII AND DII both have turned to be buyers in cash segment. So Monday second half shall be very important also Monday is monthly closing.
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Nifty is on upswing on daily charts as said and buy on every decline for higher tgts
ReplyDeletemkt can test the levels of 4950 - 4850 in this week
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