nifty so tough to analyse today as the graph pattern it made today that kind of graph generally formed in correction phase or before correction...and plz dont get confused correction means 200-300 poitns as i state earlier also i am doing for very short term for tomorrow only as i told yesterday 23-30 poitns sudden reversal after 3830 and it happens today .as the graph formed i am not in favour to give you all target of nifty on upper side most probable chance to slip 40-70 points in nifty today or tomorrow . nifty strong resistant level is 3880.which personally i think now in mood to cross.
one more suggestion again dont make any fresh positions till infy results as it ll provide a direction to market .
a positive opening might lead to profit booking whole day.
nifty supports 3810 3785
nifty resistance 3885 3895
I have marked three days indicated with arrows...on all these days, nifty showed excellent gains but on the lowest volumes within that leg/ rally. The subsequent day had a significantly smaller trading range on higher volumes.
The subsequent action is interesting and I leave this for you to figure out.
Best trading strategy is wait for a convincing breakout above 3900 or below 3750. Either way gains would be very good so missing a part of the action shd not be a cause of concern.
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