7.12.15 (Monday 8.14 A.M)
Nifty 50 (7781)
Positional view
Nifty is trapped in a downtrend channel
7870 ...7850 zone will act as an important level for the week
There is a gap in nifty 7853...7821 it has to be filled for any pull back
Strong support lies around 7700...7730 if this breaks as mentioned earlier we can see 7540...7200 coming
Short term view
Last week nifty broke its downtrend trend line and was showing some reversal pattern but again gave a gap down closing on Friday on 4th Dec now if sustains above the support level of 7700 this week and closes above 8000 we can see W pattern and reversal signals again to catch its uptrend
Strong support 7700
Strong resistance 8000
All levels on closing basis
Nifty 50 (7781)
Positional view
Nifty is trapped in a downtrend channel
7870 ...7850 zone will act as an important level for the week
There is a gap in nifty 7853...7821 it has to be filled for any pull back
Strong support lies around 7700...7730 if this breaks as mentioned earlier we can see 7540...7200 coming
Short term view
Last week nifty broke its downtrend trend line and was showing some reversal pattern but again gave a gap down closing on Friday on 4th Dec now if sustains above the support level of 7700 this week and closes above 8000 we can see W pattern and reversal signals again to catch its uptrend
Strong support 7700
Strong resistance 8000
All levels on closing basis
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