Will nifty repeat history or this time its other way ????
Price @ Demand. Nifty repeating history
with price falling nearby same % within 9 days (Scenario is bit different this time)
Till 9855-9920 is not crossed use bounce to reduce
long positions. On downside 9640-9680 will act
as support with 23.6% retracement of 7893 to 10178 @ 9640
Break below 9640 with volumes will extend further
fall towards 9450-9520
Till 9640-9680 is not broken bulls will try to bounce back
Index is trading below its 20DMA & 50DMA with both curve downward indicating bearish momentum, also oscillator trading below average is adding to further bearishness
Avoid aggressive and leveraged longs till index not sustaining above 9950
Expect range 9640-9950 for coming week
with price falling nearby same % within 9 days (Scenario is bit different this time)
Till 9855-9920 is not crossed use bounce to reduce
long positions. On downside 9640-9680 will act
as support with 23.6% retracement of 7893 to 10178 @ 9640
Break below 9640 with volumes will extend further
fall towards 9450-9520
Till 9640-9680 is not broken bulls will try to bounce back
Index is trading below its 20DMA & 50DMA with both curve downward indicating bearish momentum, also oscillator trading below average is adding to further bearishness
Avoid aggressive and leveraged longs till index not sustaining above 9950
Expect range 9640-9950 for coming week