Hi All,
Markets are likely
to open on a Positive note tracking global markets, SGX Nifty is trading @
9466(+32 Points)
Markets yesterday tanked by 95 points and
gave few negative indications on charts.
On daily chart there are two Negative
Candlestick patterns one on 17-May – Bearish Hanging man and other on 18-May
Shooting Star which indicates there a stop on the up move until Nifty closes
above 9530-9540 levels.
On weekly charts also Nifty is suggesting
a halt at the up move and if Nifty close below 9400 today then we can expect
selling pressure in the coming weeks.
Bias will be wait
and watch.
Areas to watch out
Supports @ 9400 –
9370 – 9320 - 9280
Resistance @ 9480
– 9530 - 9550
Regards,
Mayur Shah.
Nifty50 index has immediate support placed around the level of 9,580, and if it holds below this level, further corrections up to the level of 9,550 is likely. capitalstars
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