1. World cues negative
2. Asian markets down 1.5-4%. Downtrend today
3. Expect Nifty to open at 5050 or lower. ( 2% )
4. Supports - 5050, 5030 ( 20d SMA ), 5000 ( 200d SMA ), 4960
5. Resistances - 5090, 5120, 5160
* According to the wise man, "4885-4935" may act as an inflection point.
* According to Lakshmi MaaM, "In the very short term the rising wedge and negative divergence may lead to a pullback". But long term, The bias has turned positive and one can trade long with a stop loss of 4950.
Last hour run at the greedy 4700CE writers!
13 years ago
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