Its been seen in the last 5 trading sessions that the Nifty is trying to close above the "rest" trendline, but till its not achieved the success. Nifty is finding good support at 4700-4600 levels. We have seen that the Nifty on 28th March tried to touch 5000 level, but due to lack of buyers and profit booking, closed below at 4734. It tired to break the lower top and lower bottom pattern by touching 5000. Nifty is not making lower bottom below 4600. Its trading in the range of 4600-4850. The close above the tredline will take Nifty to 4950-5000 levels, and there are chances that the lower top and lower bottom pattern is broken.
But if the Nifty closes below the "support" trendline and below 4600 then the Nifty will touch 4450 within few trading sessions. Up Trend is like possible.
Reliance has a good resistance at 2420 levels. Close above that will take it to 2470 levels.
RPL looks good above 175 tg 172, with the Sl of 168.
No comments:
Post a Comment