NSE Indexes update:
NSEIT, BankNifty, NSE500 and NSENifty all are looks to be in the support area. It wasn't a special volume week as well. I saw many Dojis in the market last friday. In general, dojis with volume represents reversals.
IT sectors looks to have a short term jump.till 6150.
NSE500 is at the support as well. It has higher chances to go to 3960. It will need a heavy volume to breakout the low support at 3816. Likely scenario seems to be 3960.
NSENifty has very good closing but we didn't have much volume to support the good close at this range. Unless bad news are waiting in this market, we should see higher close in nifty. We should see 4940 but if heavy volume comes, we will see market reversing from this range.
I would wait to see todays action before getting excited about this market. High risk trader can take the long side trade with stop below Fridays low.
I am little positive about this market now.
Good Trading Guys
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