It was mentioned in the post dt 16th September, why the level near 7925 might give support and had said --
"If this region gives support once again, bulls have some hope to make another attempt to conquer the formidable 8150 - 8200 resistance."
Nifty did get the support and did make an attempt to cross the formidable resistance, but failed (in the process made a triple top at 8160 on 3 consecutive days, this top is also a double top on weekly charts now, unless crossed in the next 2 days..unlikely! )
As explained through tweets, this was visible on the 8100 CE which made a double top near 83, and this CE crashed to a low of 2.25 today !
Nifty made a panic low at 7950 today and again hit the 200 hourly moving averages.
8000 CE also hit the support band (tweeted a few times), and went below it briefly in the panic after the SC verdict on 'Coalgate'.
Nifty is now oversold on hourly charts, and with expiry tomorrow, it will be interesting to see if expiry is closer to 8100 or 8000. My guess is, it will be between 8050 and 8075)
It is likely that Nifty might be rangebound next week too (7930--8150)
"If this region gives support once again, bulls have some hope to make another attempt to conquer the formidable 8150 - 8200 resistance."
Nifty did get the support and did make an attempt to cross the formidable resistance, but failed (in the process made a triple top at 8160 on 3 consecutive days, this top is also a double top on weekly charts now, unless crossed in the next 2 days..unlikely! )
As explained through tweets, this was visible on the 8100 CE which made a double top near 83, and this CE crashed to a low of 2.25 today !
Nifty made a panic low at 7950 today and again hit the 200 hourly moving averages.
8000 CE also hit the support band (tweeted a few times), and went below it briefly in the panic after the SC verdict on 'Coalgate'.
Nifty is now oversold on hourly charts, and with expiry tomorrow, it will be interesting to see if expiry is closer to 8100 or 8000. My guess is, it will be between 8050 and 8075)
It is likely that Nifty might be rangebound next week too (7930--8150)
2 comments:
too good sir .thank you.
Great spot AP bhai (yes)
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