Nifty performed exceptionally well for the day. The clouds of worry seems to get clear today as nifty broke the consolidation of last eight trading days and closed positive today. We got a good breakout for upside on chart, where we were worried that nifty was trading on support handle last trading day now one can expect good upside from nifty for the levels of 8700 and 8850. But its necessary to look on the lower edge to so 8500 still act as a major support.
As forecasted in the previous report today we can see the effect of Doji candle on chart and the index reacted positive today. Bank Nifty gave a positive move of 421 points for the day and we got closing @18995. Now it’s the time when we are looking for the major resistance 19100 to get break which can lead us to 19250 and 19450 handle. Where on lower side 18600 is a good support to give rebound in prices
|Nifty Day Performance|