Nifty closed at 7569.25 on 24-6-2014
SUPPORT:- 7563.50 / 7547 / 7502 / 7487.55 / 7477/ 7441.60 / 7409 / 7340 / 7263 / 7229/7200
RESISTANCE: 7580.20/ 7601 / 7635/ 7656.40/ 7678.50 / 7700.
Nifty moved in a very short range today and has
not made any effort to cross closing top of 7631.70 and intra -day top of 7663
but remained above its short term DMA which is a good sign. Nifty closed lower today from
the previous days close, so if it closes reasonably above 7580.20 on 26-6-14 then
it will create a higher top and higher closing bottom of 7569.25 on line chart and
that will give some positive indication but to give decisive signal of correction
completion it has to cross the closing and intra-day top of 7631.70 & 7663
respectively and has to remain above its short term DMA which is placed at 7561
& 7547 for 26-6-14.
REMARK:-
Avoid trade in nifty till clarity on
correction completion is visible
Contact me for strategic guidance to enter and
exit the trade
No comments:
Post a Comment
Thank you for sharing your views.