NIFTY SPOT : 7402.25
Hi,
Readers,
In my previous blog dated it was clearly mentioned that
7150-7200 is very strong support area. At that time Nifty was at 7235.
As was mentioned in my previous blog, Nifty took that support
and approached towards the upper end of the range at made a high of 7433.
I hope readers would have enjoyed the profits.
Now What :-
Now in Nifty 7470 to 7500 (which is also upper end of the range)
is very strong resistance area and Nifty is likely to take this resistance.
On downside break below 7370 support will be first sign that
7470-7500 resistance is holding. And 7330 is very important level, break below
7330 comprehensively will indicate that Nifty wants to go to the lower end of
the range.
Remember the range is 7200 to 7500.
Trade accordingly.
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