As discussed in previous weekly post that Nifty should respect 8460/8470 for upside
breakout above 8625-8640.Nifty after three consecutive attempt on 25th,26th,27th
July finally closed above 8640(as said in weekly report that to close watch on
upper level of Breakout level 8640).
As we have seen breakout and closing above 8640,but our first resistance level
8700(although High made 8675) not achieved.
What Next???
Now 8625-8640 act as a Balance Point from where Nifty to and fro to 8840 on
upside and 8460 on lower side.
Nifty(8328 on 1st July) almost achieved our 2nd July Medium term Outlook click here
Target of 8700 and BankNifty Target of 19200(BN was 17985 on 1st July).
Be cautious as Nifty almost complete the reaction of downfall from 8294-7927.
Resistance-8750/8840
Support-8590/8500/8460
Previous Balance level-8500/8510
Note-This above is my Personal View for Educational Purpose only.
Read Disclaimer.
breakout above 8625-8640.Nifty after three consecutive attempt on 25th,26th,27th
July finally closed above 8640(as said in weekly report that to close watch on
upper level of Breakout level 8640).
As we have seen breakout and closing above 8640,but our first resistance level
8700(although High made 8675) not achieved.
What Next???
Now 8625-8640 act as a Balance Point from where Nifty to and fro to 8840 on
upside and 8460 on lower side.
Nifty(8328 on 1st July) almost achieved our 2nd July Medium term Outlook click here
Target of 8700 and BankNifty Target of 19200(BN was 17985 on 1st July).
Be cautious as Nifty almost complete the reaction of downfall from 8294-7927.
Resistance-8750/8840
Support-8590/8500/8460
Previous Balance level-8500/8510
Note-This above is my Personal View for Educational Purpose only.
Read Disclaimer.
1st support 8590 achieved and close near Balance Point.Wait and watch
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