Nifty today has moved above 12k and closed near day high thereby keeping the momentum alive. Now Nifty has to surpass 12040/12052 on a daily close basis to clinch 12196/12313 from where we can expect profit booking and a meaningful correction up to 11900/890.
The low of 12850/30010 made on 6th November likely to act as a strong support for Nifty/ BN.
The rally likely to continue its northward journey and once nifty stabilizes above 12k for a week, then we may expect a huge volatility in index with an intra day range of 250 points between high and low. The main trend remains intact till we see meaningful correction.
Today's range in Nifty - 11925-12050. BN 30350-30950.
Good Luck!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.