After the 192 points crash in nifty the other day,,it was an easy task to accept ,that the market,is in a strong bear grip, and will fall further, ti find another support levels.
BUT ..A STRONG "NO"...was the answer came from the market itself...when it opend up without any downside gap..and after giving another test at 4350-4380 zone...started to rally.
THE rally faltered at 38.2% retracement levels around 4490...yesterday.. after a STEADY open,,crashed again...only to take support back at levels mentioned here..NF broken a bit, was NIFTY ..REMAINED ABOVE 4359.
as PER MY study..a move above 4424..and than a close above 4494..will create a strong upmove.and will confirm a strong HIGHER BOTTOM FORMATION ( first bottom at 3916), in nifty.
No comments:
Post a Comment