Nifty(10265): #CloseaboveKeyMovingAverages,#ApproachingFlagTop
Faster moves have been seen in past 2 sessions as price approaching flag resistance, nifty fell 380 pts in past 6 sessions and regained 250 pts in 2 sessions indicating probability to breakout of flag pattern
Going forward till 10160-10190 which is 38.2% retracement of 9687 to 10413 holds, expect rally to continue up to 10360-10410 where flag resistance occurs (Sellers will try to take control)
Rally will further strengthen above 10410 towards 10490-10550 which will also confirm flag breakout
In case 10150 is breached profit booking upto 10030-10060 will be seen
Going forward till 10160-10190 which is 38.2% retracement of 9687 to 10413 holds, expect rally to continue up to 10360-10410 where flag resistance occurs (Sellers will try to take control)
Rally will further strengthen above 10410 towards 10490-10550 which will also confirm flag breakout
In case 10150 is breached profit booking upto 10030-10060 will be seen