Last week Nifty moved on the expected line. The pressure date showed its effect on 1st Dec and made the high of 8250 on this date.
On Monday, Nifty took support exactly at the level of 8070 & made the high very near to our level of 8255. All the levels were mentioned here very well in advance.
Nifty met our second target on the long side as well as second target on the short side.
This week due to RBI policy we may see very volatile movements. There are possibilities that Nifty may revisit 7900 levels again. Once again we are approaching the support zone.
7917-7897-7850-7833 are very strong & important levels to consider.
A close below 8027 may take Nifty toward 7917-7833 zone.
Major resistance levels are 8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Major support levels are 8070, 7916, 7896, 7850,7833, 7715.
On Monday, Nifty took support exactly at the level of 8070 & made the high very near to our level of 8255. All the levels were mentioned here very well in advance.
Nifty met our second target on the long side as well as second target on the short side.
This week due to RBI policy we may see very volatile movements. There are possibilities that Nifty may revisit 7900 levels again. Once again we are approaching the support zone.
7917-7897-7850-7833 are very strong & important levels to consider.
A close below 8027 may take Nifty toward 7917-7833 zone.
Major resistance levels are 8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Next pressure dates are 5th Dec- 20th & 29th Dec.( The effect of PDs can be seen in + - day).
** Disclaimer: these are my personal views and for educational purpose and trade taken on these observation should be traded with strict Sl. Please also read the detailed Disclaimer mentioned in the Right side of Blog.
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