NIFTY INDEX PRICE ACTION EXPECTED FOR THE DAY

INDEX SUMMARY
-WHAT WE SAW ON NIFTY INDEX YESTERDAY WAS A WATERFALL DROP FROM THE HIGH POINT
-WE HAD DISCUSSED THE RESISTANCE LEVEL OF 11555-11580 WILL ACT AS A CRUCIAL POINT
-ONLY POSITIVE THAT COMES OUT IN NIFTY INDEX IS THAT IT AGAIN TOOK SUPPORT ON ITS 20-EMA OF 11383
-BUT AGAIN ITS A MATTER OF TIME I BELIEVE THAT IT WILL BE TAKEN OUT SOON
-NOW IT SECTOR PROVIDE THE MUCH NEEDED SUPPORT FOR THE INDEX YESTERDAY
-SGX NIFTY IS INDICATING A POSITIVE 20-POINT START
-CRUCIAL LEVEL TO BE SEEN IS THE BREACH OF 11328
-IF THE LEVELS ARE BREACHED I EXPECT A DASH TOWARDS 11270-11230
-NOW I DONT EXPECT NIFTY IN ANY CONDITION TO CROSS BELOW 11060-11150 CHARTS ARE NOT THAT WEAK
-I WILL BE ON ALERT IF NIFTY BREAKS BELOW 11360
-ON THE OTHER SIDE NIFTY WILL AGAIN SEE HURDLES AT 11555-11580
-BUT FIRST IT NEEDS TO CROSS ABOVE 11486 WERE I FIND SOME SELLING PRESSURE
-S&P 500 HAS STARTED TO TRADE BELOW ITS 20-EMA LOOKS WEAK TRADING INSIDE A RANGE
-IF NIFTY FAILS TO BREAK LOWER LEVELS THEN MARKET IS SIDEWAYS
-WE NEED TRENDING MARKET

RESISTANCE FOR THE DAY (FUT)
11525-11555-11585
SUPPORT FOR THE DAY (FUT)
11275-11300-11355

SCREENSHOT


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