Last 2 days, nifty is bouncing from 5400 level but not able to close above 545o. Though support is around 5350 level & resistance is at 5470.Yesterday US market closed down in positive, Asian market is flat. SGX nifty is +6 (5440). During the day banks will be under pressure which may keep Nifty below 5470.
If nifty closes above 5470, expect some bounce back upto 5550-5590.
Weekly close below 5470 will ensure that next week will favour Bears.
No comments:
Post a Comment