iCharts Discussions

[sraj]

WORLD MARKET

A fear due to yesterday close of American market, but this fear is getting reduce due to the current world market status, due to this the following points may give support and resistance for nifty spot today , they are 5205, 5175, 5166 as support and 5227, 5243, 5266 as resistance,

NIFTY SPOT

Today if nifty spot breaks 5227 then further up move may possible up to 5243, 5266, above this points good up move will come towards 5312+++, same as if it breaches 5207 then it will come down to 5175 to 5160,

Generally as shown in the picture below, if nifty spot wants to get big correction, then it should breaches the following three important supports

That means nifty spot should breaches

5190 which is being as rising wedge bottom trend line support
5170 to 5160 which are being as trend line support and bottom support
5125 which is being as Fibonacci support (from 4538 to 5310)

if the above three supports will get breach by nifty spot strongly, then it will come down towards 5040 to 4950, if not then flat and volatile situation will remain in this full month may be,,,

NIFTY SPOT TODAY’S LEVELS

Nifty Spot above 5227 Target 5243, 5266, 5311, 5333, 5353, 5389

Nifty Spot below 5207 Target 5175, 5166, 5155, 5146, 5132, 5118, 5114, 5040

THANKS
SRAJ