Tuesday 9 May 2017

Bulls & Bears flirting with each other!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9349(+3 Points)

On daily charts there’s a Bearish candlestick pattern - Engulfing Line with RSI classic Negative Divergence will have to wait for Nifty to break 9270 – 9260 and if it sustains below 9260 then we can expect a further fall till 9210 – 9140 – 9090 levels and a break above 9380 – 9400 will be positive for Nifty.

Bias will wait and watch for either side breakout.

Areas to watch out
Supports @ 9270 - 9250 – 9190 - 9130
Resistance @ 9360 - 9380 – 9400 - 9450

Regards,
Mayur Shah.
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3 comments:

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