NIFTY DAILY TECHNICAL REPORT
Current
Level: 11400.65
Support:
11261.10-11304.20-11323.80-11347.90-11360.60
Resistance:
11426.90-11470.00-11513.10-11552.90
· Key resistance is at
11470.00 till Friday. There will be another wave of rise only over 11470.00 to 11552.90
and 11686.
· Sellers will be there
only on a fall below 11360.60.
· Short term bearish
trend will be there only if there is daily close below 11304.20 for three
consecutive days.
Global
factors are dictating the indices. Volatility will rise for the rest of the
week. The current bullish trend of nifty is on a shaky foundation. There can be
some more rise and then a correction. Use strict trailing stop losses on long
positions.
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