Nifty moved on the expected line and gave very huge windfall profits to our subscribers & clients. From 7921-37 to 7575 a profit of 340 points. It was clearly stated in the last post that a close below 7680 is not good for Bulls, and the result is in front of you.
Major resistance levels are 7690,7710-15, 7777, 7825, 7979, 8065-70
Major support levels are 7539, 7475, 7365, 7281, 7221, 7196, 7111, 7027, 6835-25
Now a close below 7470 may bring more strong selling pressure. A close below 7470 may drag Nifty towards 6835-25 levels.
Take action whatever comes first:
Buy when Nifty comes around 7475 with stop-loss @ 7455. Targets are 7540, 7643, 7727, 7825.
17th, 20th to 24th pressure dates zone.
Else
Short Nifty around 7710-15 levels with stop-loss @ 7735. Targets are 7690, 7590,7540, 7475, 7365.
Major resistance levels are 7690,7710-15, 7777, 7825, 7979, 8065-70
Major support levels are 7539, 7475, 7365, 7281, 7221, 7196, 7111, 7027, 6835-25
Now a close below 7470 may bring more strong selling pressure. A close below 7470 may drag Nifty towards 6835-25 levels.
Take action whatever comes first:
Buy when Nifty comes around 7475 with stop-loss @ 7455. Targets are 7540, 7643, 7727, 7825.
17th, 20th to 24th pressure dates zone.
Else
Short Nifty around 7710-15 levels with stop-loss @ 7735. Targets are 7690, 7590,7540, 7475, 7365.
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