Hi Friends,
Hope you all missed the daily nifty updates when i was not here, but now i am back, and will try and send daily updates once again.
As of now i am not trading, and trying to get a hold of things back again. And depending on how my levels work, we will start serious trading again in next 2 weeks.So consider my levels only for educational purpose :-)
If you look at the attached chart, nifty is still in the medium term uptrend, and just just been consolidating here.Once black trendline(arnd 4200 levels) is broken, nifty will be in trouble, and may target 4090-4050 levels, where it will again get strong support.
and then if 4050 is broken, nifty should go on to fill the huge gap andmay tgt 37XX levels.
However this is just an overview of what lies ahead in the days to come.
As of now, i have a gut feel that 4200 - 4190 levels will be held, and nifty may give a pull back from there.. and targets could be 4350 levels.
we will have a clearer picture after friday's (weekly) closing
Resistence - 4288 - 4306
Support - 4263 - 4230 - 4195
(EOD chart attached, All Future Levels)
