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On another note, it is observed there are two gap up opening in the yearly chart around 5500 and 5700. Do you think Nifty will "crash" to fill these levels?
On another note, there are two gap-ups in yearly chart. you think Nifty will crash to these levels to fill in? does it look more likely in near future?
Hi Sharad, From the current 6200 levels to reach 5700-5500 it will need to cover a distance of 500-700 points which is unlikely in a single journey. For the moment 6150, 6050 & 5850 seems to be good support points Hence Nifty may give us some relief rally if it comes near those demand levels.
Hi Lawrence,
ReplyDeleteOn another note, it is observed there are two gap up opening in the yearly chart around 5500 and 5700. Do you think Nifty will "crash" to fill these levels?
Hi Lawrence,
ReplyDeleteOn another note, there are two gap-ups in yearly chart. you think Nifty will crash to these levels to fill in? does it look more likely in near future?
Hi Sharad,
ReplyDeleteFrom the current 6200 levels to reach 5700-5500 it will need to cover a distance of 500-700 points which is unlikely in a single journey.
For the moment 6150, 6050 & 5850 seems to be good support points Hence Nifty may give us some relief rally if it comes near those demand levels.