NIFTY 's rise has been slow and steady from the break out of 2800 and it touched a high of 3100+ today.
I presume there is strong resistance level of 3150-3175 on upside and on the lower side, a support at initially 2990 and then a crucial one at 2930. A break below 2930 would negate the current bullishness on the price charts.
While the Nifty is nearing overbought region, so are the frontline stocks. Most of them have reched their target resistance levels.
Happy trading
CA Rajiv D Khatlawala
1 comment:
Dear Sir,
Thanks for resuming regular blogging. Your analysis are great & when u don't blog it looks as "something missing". Plz Keep blogging.
Today I differ a little, 3170 will be tough but daily chrt with RSI at 57 & macd just above 0 suggest bullish signal tgting 3400? If I m wrong ur guidance is always helpful.
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