Nifty has major support in the region of 8540. 8540-8560 is the major support zone. 89 weekly SMA and 20 daily SMA also in this range. So i am not expecting this support to be broken in normal circumstances. On the upside 8720-8800 range will act as resistance. Thus Nifty can spend some more time in this 200-250 points range before giving any decisive move which i am expecting on the upside.
Disclosure: I am not a Nifty trader so this is not a buy/sell call this is just for my study purpose. Further i am not a SEBI certified analyst so please consult your financial adviser before acting on this call.
Comments
Post a Comment