Nifty
Nifty was showing some resistance above 3280. But market upside movement is very strong, which could take us above 3300 mark in coming week. Today drop from highs was due to profit booking.
Technical Voice:
Yes! Some oscillators are showing a sign of overbought situation. Which indicate that the market could test its lower side of supports at around 3110 or 3060 due to profit taking! Under such conditions trader can take advantage of every dip as a buying opportunity.
Trading advice:
Buy at dips around 3110 & 3060 in nifty.
Book some profits at current levels.
For bulls 2830 is last major support for standing in strength.
Market Direction
Short Term: Down
Medium Term: Bullish
Long Term: Bearish
Nifty was showing some resistance above 3280. But market upside movement is very strong, which could take us above 3300 mark in coming week. Today drop from highs was due to profit booking.
Technical Voice:
Yes! Some oscillators are showing a sign of overbought situation. Which indicate that the market could test its lower side of supports at around 3110 or 3060 due to profit taking! Under such conditions trader can take advantage of every dip as a buying opportunity.
Trading advice:
Buy at dips around 3110 & 3060 in nifty.
Book some profits at current levels.
For bulls 2830 is last major support for standing in strength.
Market Direction
Short Term: Down
Medium Term: Bullish
Long Term: Bearish
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