Nifty Intraday Chart - 5 min:Nifty opened a Gap up and due to profit booking it came down but took support form 4920 level. It has consolidated in a narrow range till late noon and gave a breakout. Nifty reached the first target immediately, Second target is at 5000 - 5010 level.
Nifty Chart - Hourly:On the higher side Nifty may go up to 5000 - 5010 level. As 5000 is a numerical resistance I am little skeptical about this target. Above 5000 level, 5040 is the next resistance.
On the lower side Nifty may take support from 4950 - 4940 level. 4920 may act as good support, if it is broken Nifty may reach up to 4900 level. As Nifty is moving up after consolidation in a ranges, they may act as good supports for it.
2 comments:
Hi mam,
Numerical 5000 reached and turning down is it a running correction for upmove or it's a correction from OB level, still 2 day RSI is high.. but nifty is not falling much resisting 4950 level..
Consecutive 2 gap ups are there in Sensex 3rd one is exhaustion? or else normal upmove will be there according to your TA..
Thanks in advance
Regards
Hi Doji,
According to your numerical calculation Nifty
touched Its level.
Superb......
Have a nice DAY
Chhaya
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