Given resistance of 4975 (high 4976) was intact in today's trade, with a range bound action between 4900-4975, leaving no room for bulls to be comfortable with their positions. Still downtrend intact.
Supports: Below 4900, 4860-4830 are possible and crucial, will watch out closely to both these levels. Below that 4780-4740 will decide the larger trend.
Resistances: 4956 is immediate hurdle. Above that 4975/85-5020/25 is possible, very likely shorting zone.
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ReplyDeleteHai satyam
ReplyDeleteYou have mentioned the support area of 4830-4860 were multiple supports are going to come. The triangle which broke in 5 minutes is targeting 4850. The descending broadening wedge which i have posted is also targeting the same area. See the charts in the below link.
http://www.niftychartsandpatterns.blogspot.com/
thank you
San you have provided more confirmation on 4850. Which would add value to its validity.
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