Nifty has rallied a straight 200+ points from our buy level of 5330.
It has now entered the resistance zone of 5580-5620. markets look overbought in the shorter time frame and may witness some pullback from these levels. People wanting to part book their profits can do so near those levels or keep a trailing sl of 5535 and re-enter at lower levels near 5420-5440.
The medium term trend however remains intact and so does our tgt of 5900
Book near resistance and enter lower or sit tight with your longs. Suit your style.
Levels to watch out for tomm would be 5587, 5605 on the upside and 5540 and 5510 on the downside.
It has now entered the resistance zone of 5580-5620. markets look overbought in the shorter time frame and may witness some pullback from these levels. People wanting to part book their profits can do so near those levels or keep a trailing sl of 5535 and re-enter at lower levels near 5420-5440.
The medium term trend however remains intact and so does our tgt of 5900
Book near resistance and enter lower or sit tight with your longs. Suit your style.
Levels to watch out for tomm would be 5587, 5605 on the upside and 5540 and 5510 on the downside.
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