Nifty hits the big supply every time it reaches the resistance trend line. Not it seems like a very strong resistance line. Nifty may test the 5167 range tomorrow. Not it seems like until Nifty crosses Support line or resistance trend line, one should not take major risk in this market. Market can go any where from here....
One can see in above graph that if any of the resistance or support is broken, Nifty will move rapidly in any direction.
Market doesn't seem to have major movement in last couple of days. Market seems to be just waiting to make move and waiting for the direction.
My indicator shows me a major move is just waiting in this market. Based on my P&F chart, I believe we are waiting for another 800 points move in this market. Either we should see 6000 index of 4400 index in this market........ My hunch is that we are oversold and we may see upside move in next future....
One can see in above graph that if any of the resistance or support is broken, Nifty will move rapidly in any direction.
Market doesn't seem to have major movement in last couple of days. Market seems to be just waiting to make move and waiting for the direction.
My indicator shows me a major move is just waiting in this market. Based on my P&F chart, I believe we are waiting for another 800 points move in this market. Either we should see 6000 index of 4400 index in this market........ My hunch is that we are oversold and we may see upside move in next future....
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