Nifty completed a-b-c zig zag pattern. Another leg of downfall begins from here.

Nifty formed zig zag pattern as counter trend move from 10640 to 11141.
Another impulsive down move begins from current levels any time.
200DMA at 11155 acted as stiff resistance and as long as nifty trades below that level, trend is down.
Nifty trading range has increased so huge volatility possible in market.
Keep booking profits in long positions, if any.
Avoid fresh long positions.
Positional Short sellers can initiate fresh short selling in specific stocks.
Nifty Resistance 11155-11225.
Nifty crucial level 11045.
support at 10900.
Suryadev Bandari
Research Analyst.

Popular posts from this blog

Up move to continue. New Highs to form again.

Down trend to resume again. Do not fall in Bull Trap.

Exhaustion gap formed. Bulls strength eroded???.