Nifty 50 (6976)
Nifty has entered into a new lower zone below 7000
7100..7240 will act as resistance.
In the past downtrend nifty has mostly taken support on 50 SMA on monthly charts apart from the terrible fall of 2008.
In 2008 it had breached on 100 SMA
Nifty mostly bounces back from these zones to its all time high
This time 50 sma zone lies around 6600..6700 zone
Now the positional support for bounch back lies here
The stiff resistance for the year as mentioned in our earlier yearly reports lies 8200..8400 zone
THE BOUNCE ALSO TAKES NIFTY TO A NEW HIGH.
No comments:
Post a Comment