After Christmas holiday on Thursday, Nifty today opened in green & tested 2960 levels as mentioned in last post on Wednesday. After the expiry this new series of Nifty was suppose to start in cheerful mood as it did today, but after trading firm for quite some time it lost the momentum & ended in deep red.
While writing the post Dow has also lost some of its opening gains.Dow was trading at 8504 up 35 points after having a upside of 60+ points. Rallies in all the world markets are not sustaining with the momentum which is required. Nifty also traded in same manner today with a good of 40 points on upside it lost all its strength and ended 60 pints in red. Today Nifty spot levels were :
Open 2919.85
High 2960.95
Low 2844.80
Last 2857.25
This shows how perfect that level for 2960 in last post was. Now on Monday traders has to look for 2800 levels on closing basis. Any closing in nifty below that level is confirmation of of Bull slaughter by Bears. On Monday nifty has supports s1, s2 at 2850 and 2820 levels. On upside Nifty will face huge resistance 2880 and 2920 levels. A closing above 2920 will give bulls some relief on Monday.
While writing the post Dow has also lost some of its opening gains.Dow was trading at 8504 up 35 points after having a upside of 60+ points. Rallies in all the world markets are not sustaining with the momentum which is required. Nifty also traded in same manner today with a good of 40 points on upside it lost all its strength and ended 60 pints in red. Today Nifty spot levels were :
Open 2919.85
High 2960.95
Low 2844.80
Last 2857.25
This shows how perfect that level for 2960 in last post was. Now on Monday traders has to look for 2800 levels on closing basis. Any closing in nifty below that level is confirmation of of Bull slaughter by Bears. On Monday nifty has supports s1, s2 at 2850 and 2820 levels. On upside Nifty will face huge resistance 2880 and 2920 levels. A closing above 2920 will give bulls some relief on Monday.
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