The resistance not yet set in.
Weekly Analysis:
Weekly & Daily Up. Facing double top resistance. Got to see whether retraces from here or goes all the way to the weekly channel top 5220. Retracing from here is good for the up trend else if it goes non-stop the Bullish sentiment could be a trap.
Two distinct levels of retracement as of now, minor 5900, major 5800.
Dear Rajib,
ReplyDeleteMomentum looks very strong . It came down from 6115 but again it crosses 6115 also . I was not able to buy because waiting for 5800 level.
Regards,
Pinakin
Markets Quantified
ReplyDeleteNIFTY 17-May-2013
Current Market Situation :
NIFTY current close : 6187
NIFTY resistance level : 6312
NIFTY support level : 6158
NIFTY sentiment : positive
NIFTY dominant cycle period : 12 days
Levels Tomorrow :
NIFTY intraday resistance 1 : 6213
NIFTY intraday resistance 2 : 6243
NIFTY intraday resistance 3 : 6286
NIFTY intraday support 1 : 6161
NIFTY intraday support 2 : 6132
NIFTY intraday support 3 : 6088
Markets Quantified