Tuesday 16 December 2014

Nifty Update

Nifty Chart:



We discussed about BN 350 points rectangle in yesterday post and today we had a spectacular fall :)..  

Coming back to Nifty

Today's closing is exactly at 61.8 per retrace level of 7724-8627.
Channel support at 8044 which is moving down by around 10 points per hours. So tomorrow morning channel support will be around 8034-32 region. It also coincides with GAP support.

If Nifty manages to hold 8030-8035 zone then some pullback can be seen. But as long as Nifty remains in the channel(for aggressive) and for conservative traders below 34 hour ema it will remain weak. 

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Happy Trading. 

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All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.



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