NIFTY VIEW:
Nifty 50 (8715)
Nifty as mentioned earlier is showing gap and island formation if it does not fill the two gaps of 8750..8754 and 8824..8848 in this week it can show selling pressure.
Nearest support zone lies around 8700..8650..8626..8600.
These are multiple and strong supports if holds here it can resume back to fill the above gaps.
But if slides below all these zones and breaks 8470..8500 on closing basis it enters into bearish zone
Above resistance are the two gaps and 8960 ..9000 on closing basis.
Nifty 50 (8715)
Nifty as mentioned earlier is showing gap and island formation if it does not fill the two gaps of 8750..8754 and 8824..8848 in this week it can show selling pressure.
Nearest support zone lies around 8700..8650..8626..8600.
These are multiple and strong supports if holds here it can resume back to fill the above gaps.
But if slides below all these zones and breaks 8470..8500 on closing basis it enters into bearish zone
Above resistance are the two gaps and 8960 ..9000 on closing basis.
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