Nifty resisted at 5600 odd and has now come down to 5500 levels. A clean 100 points.
Anyone who part booked at 5600 as mentioned previously can re-enter near 5480-5500 with a small sl of 5460-5450. Below that nifty may move lower towards 5400+/-
The medium term trend for nifty remains up until it breaches the all important 5170.
targets for this upmove remain at 1) 5720 and 2) 5900+
Levels to watch out on monday would be :
5500 and 5480 on the downside and 5545 and 5580 on the upside.
Anyone who part booked at 5600 as mentioned previously can re-enter near 5480-5500 with a small sl of 5460-5450. Below that nifty may move lower towards 5400+/-
The medium term trend for nifty remains up until it breaches the all important 5170.
targets for this upmove remain at 1) 5720 and 2) 5900+
Levels to watch out on monday would be :
5500 and 5480 on the downside and 5545 and 5580 on the upside.
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