Nifty closed at a very bullish note, even after an intraday dip from its resistence of 2950.
ideally nifty is long till we close below 2840 levels for a tgt of 3050 levels
however as i am writing this, dow is almost -300, so its like a slap on the face for the bulls.
closing below 2840, sl becomes 2950 and downside tgt1 will be 2750 levels and more.
another concern now is, since we fell badly from the resistence of 2950 and we are getting a gap down, so it would mean, markets have to cross 2950 levels for bulls to look stronger again.
as you can see, from what i wrote , there is more weightage for bears as of now, so ideally, i will wait for a break of 2840 to take a position, else will strictly play intraday, till 2950 is crossed.
so watch for a break of 2950-2840 for a positional view.
For Intraday, -
supp - 2870-2840
Resistence - 2915-2931
(EOD chart attached, All Future Levels)
