Nifty today made a high of 10393 and closed near the opening level. 15 minute charts as well as hourly charts have not yet given an exit signal for the buy initiated last week @ 9964 levels. Meanwhile this is the highest closing for nifty in 12 weeks. If this trend continues the index is not far away from 10500 levels. Immediate resistance is now placed at 10350 and 10400 levels Immediate support at 10250.And major support at 10080. Weak hearts can exit the long if index drop below 10245 and Strong hearts should keep a sl below 10078.
The ADX indicator which shows the strength of the trend is still above 30 in hourly chart.So I believe nifty may march towards 10500 .however my sl is 10078.
The ADX indicator which shows the strength of the trend is still above 30 in hourly chart.So I believe nifty may march towards 10500 .however my sl is 10078.
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