Markets After Gap Up Opening Has Been Able To Sustain And Give Close Above 4100 With The Support Of + Ve Globle Cues Also This Is The Mirror Image If You See The Intraday Graph Of Yesterday Giving Gap Down Opening And Close Below 4000 Which Is Very Surprising Also There Shall Be Resistance At 4200 – 4250 And Close Above Shall Give Reversal Signal As The Swing Shall Change To Bullish On Close Above 4200 Also As All The Markets Were Oversold And May Be This A Pull Back As Fii Are Net Buyers But The Over All Volume Of The Exchange Is Below 10 Day Average Which Means There Is No Coviction In Buying But Sl For Long Should Be 4030 Levels Again It Will Play And Important Roll Also If Europe Opens Week Tomorrow And If We Resist Above 4200 One Can Creat Short On Higher Side With Sl As 4250
DOWNTREND LEVELS :
4378.52 – 4184.66 – 4163.12 – 3870.17 – 3616 – 3361.83
LEVEL FOR THE DAY
TECHNICAL OUTLOOK :
Imp Support 4070, Imp Resistance 4155,
Likely Trading Range 4025-4200,
Trade on long Above 4033 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.
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