Nity Chart
Nifty Trend Support 6443-6439 Resistance 6529-6534
Yesterday's move
The Nifty Index reversed from the lows of the day in the
1st half and closed lower in the 2nd half. The Nifty Index
registered an intra-day high 6523(-1) and a low of
6473(-51) and finally closed at 6483(-41) down 41 points.
The Nifty did not crossed the previous day closed level 6524
even in intra-day high.
Observation : Predicted Trend Support 6486-6482
Exactly hold above the trend support with a low 6473.
Predicted : Key levels for more than 100 points move on
down side is 6475 on closing basis : Exact low 6473.
Market Breath :
The Advanced scripts 534, decline scripts 858
unchanged scripts 87
Market Range :
Range bound market for the past 15 days 6450-6575.
FII flows and the Election and Movement of the
Rupee(USDINR) could be major factors that could continue
to impact the oscillation of the Index in the near term.
Analysis : As per different Elliott Count once hold 6440
on closing basis then 66??+ is a first target. Expected
Short covering above 6550 for new high.
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