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MTECHTIPS:-NIFTY
Nifty gave a gap down opening on Friday and managed to take support at lower levels. The markets recovered sharply from their intraday lows to close the day with modest gains.Nifty has made a panic low of 4788 and has recovered 120points from that levels showing strong counter rally. Nifty on Friday breached 200WMA 4819 after 19weeks, and now if 4819 holds on downside and any move above 4925 on higher side then rally till 200DMA 5085 above levels is possible in days to come. Nifty for the day holding 4850 and crossing and sustaining above 4920 then levels of 4975 & 5040 are possible levels. In last 11 Mondays almost 8 have been negative and till 4750 on downside is held market can stage a strong rebound before any fresh selling. Nifty in last 12trading days 11 days we have seen Nifty 4788 is very crucial.
Nifty gave a gap down opening on Friday and managed to take support at lower levels. The markets recovered sharply from their intraday lows to close the day with modest gains.Nifty has made a panic low of 4788 and has recovered 120points from that levels showing strong counter rally. Nifty on Friday breached 200WMA 4819 after 19weeks, and now if 4819 holds on downside and any move above 4925 on higher side then rally till 200DMA 5085 above levels is possible in days to come. Nifty for the day holding 4850 and crossing and sustaining above 4920 then levels of 4975 & 5040 are possible levels. In last 11 Mondays almost 8 have been negative and till 4750 on downside is held market can stage a strong rebound before any fresh selling. Nifty in last 12trading days 11 days we have seen Nifty 4788 is very crucial.
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