Personal View Only :
Nifty current rally is quite strong with some healthy consolidation possible till 11370/11176. 11100 - 11176 may offer major support.
Unless this is broken on closing basis, rally may continue. So 11100 is strict SL level for bulls.
Quite a good earning season and any trade deal may bring more momentum to this rally.
Around 11750-11800 level is the double top. If nifty reaches there, some consolidation possible.
Breakout from double top may lead to 400-500 points rally for nifty.So overall 12200-12500 is the possible nifty level for May.
Nifty current rally is quite strong with some healthy consolidation possible till 11370/11176. 11100 - 11176 may offer major support.
Unless this is broken on closing basis, rally may continue. So 11100 is strict SL level for bulls.
Quite a good earning season and any trade deal may bring more momentum to this rally.
Around 11750-11800 level is the double top. If nifty reaches there, some consolidation possible.
Breakout from double top may lead to 400-500 points rally for nifty.So overall 12200-12500 is the possible nifty level for May.
Nota
As expected ReboundedNota
Closing Below 11360 exit
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