Nifty @ 5400.
markets have reached our support area of 5300 - 5400. the false breakout above 5565 provided with a good shorting opportunity as mentioned for a breakdown below our level of 5470. Any further fall towards our support area can be utilised for buying. nifty has gone oversold in the longer time frame and one can expect a good bounce back going forward.
Stay on the buy side. The trend is about to shift.
markets have reached our support area of 5300 - 5400. the false breakout above 5565 provided with a good shorting opportunity as mentioned for a breakdown below our level of 5470. Any further fall towards our support area can be utilised for buying. nifty has gone oversold in the longer time frame and one can expect a good bounce back going forward.
Stay on the buy side. The trend is about to shift.
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