Nifty closed at 7611.35 on 30-6-2014
SUPPORT:- 7593.35 / 7487.55 / 7481.30 / 7477/ 7441.60 / 7409 / 7340 / 7263 / 7229/7200
RESISTANCE: 7635/ 7656.40/ 7678.50 / 7700.
Nifty exhibited strength today and made high of
7623.65 before closing the day near the high of the day. It made higher top
& bottom on the bar chart but yet to make higher bottom on the line chart
therefore it may still come down on closing basis on the line chart to make
higher bottom, so as of now the bench mark level for nifty is 7611.35 and the
short term DMA which is placed at 7545 for 1-7-14, if nifty starts trading
below 7611.35 and break the short term DMA then be alert in long trades.
REMARK:-Long
term trend is up and it is buy on dip market as of now, but since nifty has not made
higher bottom on the line chart ,therefore I feel that it can give down move on
the closing basis either on 2-7-14 or 3-7-14 to make higher bottom,. Trade cautiously
with an adequate stop loss. Kindly note that make your cost your stop loss in
favorable trade and then trail it as the price moves up/down to gain maximum
profit and avoid losses.
Contact me for strategic guidance to enter and
exit the trade
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Thank you for sharing your views.