Nifty tanks below 4830 mid afternoon and falls below 4790 to test 4720 levels. VWAP @ close is 4804. Nifty closes the week at year low of 4748.
1) Reversal level will be above 4830 on closing basis and 4790 is stiff resistance level and it will be few sessions before Nifty will attempt go close above this level .
2) The next support levels are 4695-4630-4570.
3) The level of 4790 will be level to watch on Monday and above this level short covering rally can be expected. Happy trading. Happy weekend :)
No comments:
Post a Comment