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MTECHTIPS:-NIFTY
Nifty opened the session negative and the index witnessed a gradual decline yesterday as the traders were seen initiating new short positions. The Nifty closed the session with strong losses, and dipped to trade below the 5700 levels and closed around the day’s lows.Nifty has made lower high and lower low and closed lowest in 6 days now if any move above previous day high(5752) not crossed ,then this market would adopt a tendency to make lower highs and lower lows in the days to come. Today for Nifty to be positive , it should sustain above 5710 and crossing 5760 and it could target of 5850 & 5900, while if we fail to cross 5710 and cutting 5665 then, lower levels of 5600 & 5540 can be possible. Trend is sideways and
traders may look to initiate new longs at lower levels, and the index may find strong supports at lower levels. But negative stock specific reports have dampened investor sentiment
Nifty opened the session negative and the index witnessed a gradual decline yesterday as the traders were seen initiating new short positions. The Nifty closed the session with strong losses, and dipped to trade below the 5700 levels and closed around the day’s lows.Nifty has made lower high and lower low and closed lowest in 6 days now if any move above previous day high(5752) not crossed ,then this market would adopt a tendency to make lower highs and lower lows in the days to come. Today for Nifty to be positive , it should sustain above 5710 and crossing 5760 and it could target of 5850 & 5900, while if we fail to cross 5710 and cutting 5665 then, lower levels of 5600 & 5540 can be possible. Trend is sideways and
traders may look to initiate new longs at lower levels, and the index may find strong supports at lower levels. But negative stock specific reports have dampened investor sentiment
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