NIFTY Spot : 6338.95
Hi,
Readers,
Nifty is still stuck around
6300 levels.
Nifty will trade with
negative bias below 6230. As I have been regularly mentioning in my earlier
blogs.
Today’s close of Nifty
at 6338.95 is important.
As it is threatening
the resistance level of 6360. This 6360 till now was acting as big resistance.
But this time Nifty
movement is also accompanied by of Bank Nifty which is also making good
patterns on hourly & daily charts (subject to confirmation).
Co-incidentally Nifty
and bank Nifty both are threatening resistance levels at same time.
If they are able to
break their respective resistance levels comprehensively than further upside
movement can be possible.
But that upside movement
if at all it comes be used to trade only. Take profit and run away.
That movement should not
be used to invest.
Trade accordingly.
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