Wish all the readers a very very Merry Christmas!!!
As we approaching the last trading week of 2016. I hope that the levels posted in the weekly newsletter must have helped in your trading in 2016.
Last Year's open was at 7938 Bulls will try their level best to give a close above this level.
As posted in the last week's newsletter Nifty tried to find support in the zone of 7940-7916.
From 7940-7916 to 7896 it's an important support zone. There are multiple supports in this zone. Nifty must hold this support zone. Bulls need to hold 7919-7890 levels to give a strong upwards rally. And a close below 7890 will open the gates for the speedy targets of 7850-7710-7570.
Major resistance levels are 8052- 8110-30 - 8255-8255-8270 - 8342 - 8434-8442 - 8510 - 8600 - 8640.
Major support levels are 7940 - 7916 - 7896, 7850,7833, 7715.
** 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.
As we approaching the last trading week of 2016. I hope that the levels posted in the weekly newsletter must have helped in your trading in 2016.
Last Year's open was at 7938 Bulls will try their level best to give a close above this level.
As posted in the last week's newsletter Nifty tried to find support in the zone of 7940-7916.
From 7940-7916 to 7896 it's an important support zone. There are multiple supports in this zone. Nifty must hold this support zone. Bulls need to hold 7919-7890 levels to give a strong upwards rally. And a close below 7890 will open the gates for the speedy targets of 7850-7710-7570.
Major resistance levels are 8052- 8110-30 - 8255-8255-8270 - 8342 - 8434-8442 - 8510 - 8600 - 8640.
Major support levels are 7940 - 7916 - 7896, 7850,7833, 7715.
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| Nifty Spot |
** 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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