After last report nifty achieved 7916 as low but protect the 7850 level.
Now lot of external factors drive market and short,medium term outlook is negative.
As told earlier below 8000 level nifty is long term bearish.But last two, weekly closing
is above 8000 level.It is mild positive.But trend confirmation is above 8220.
So in bearish side 7830-7870 is the death zone and trend continuation.
Nifty trying again back to lower level of poised condition 8220 from where it swings either way.
As it is perfectly equilibrium at 8200-8220 level.
Let us wait and watch how it reacts.
Level to Watch...
Death Zone/Trend continuation-7830-7870.
Support-8000
Trend Reversal/Resistance-8220/8300.
Note-This above is my personal view for Educational Purpose only.Read Disclaimer.
Now lot of external factors drive market and short,medium term outlook is negative.
As told earlier below 8000 level nifty is long term bearish.But last two, weekly closing
is above 8000 level.It is mild positive.But trend confirmation is above 8220.
So in bearish side 7830-7870 is the death zone and trend continuation.
Nifty trying again back to lower level of poised condition 8220 from where it swings either way.
As it is perfectly equilibrium at 8200-8220 level.
Let us wait and watch how it reacts.
Level to Watch...
Death Zone/Trend continuation-7830-7870.
Support-8000
Trend Reversal/Resistance-8220/8300.
Note-This above is my personal view for Educational Purpose only.Read Disclaimer.
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