Nifty's monthly support comes intially to 5050 levels breaking which would lead to 4960 below which it would lead to 4800 levels. The Fibo retracement for the entire upmove at 38.2% is 4777.
Nifty closed below all Lema's and week and monthly pivot. However it managed to close above the day's pivot.
Owing to Global weakness selling is expected to continue today also with a huge gapdown!!
Action Plan for the day:
Hold shorts with SL close above the Day Pivot of 5186. Part booking can be done at 5116, 5100, 5050.
When a close above the Hour Hema occurs, then a buy can be initiated with SL below the Hr High EMA
No comments:
Post a Comment