Nifty Tips
Third quarter results of TCS, strong European cues and technology , metal and financial companies shares lift the NSE index on Tuesday up to 5700 level with a green mark. Nifty closed today at 5724.05 with 69.30 points of gain (+1.23%).
Nifty Future moving under tight range from last two trading session and not able to break 200 Days Moving Average and it is forming Higher bottom pattern. It is the signal of uptrend and today it closed near to its days high. Nifty future can take up move above 5755 level . IF it breaks 5620 level we can see some more correction in it. One should wait for proper break out Resistance is at 5755/5860 and It has support at 5672/5630.
Nifty Future moving under tight range from last two trading session and not able to break 200 Days Moving Average and it is forming Higher bottom pattern. It is the signal of uptrend and today it closed near to its days high. Nifty future can take up move above 5755 level . IF it breaks 5620 level we can see some more correction in it. One should wait for proper break out Resistance is at 5755/5860 and It has support at 5672/5630.
RESISTANCE: It has first resistance close to the level of 5755 & above this level the next resistance is seen near the 5860 mark.
SUPPORT: It has first support close to the level of 5670& below this level the next support is seen near 5630 mark.
Trading Strategy-
Buy Nifty above 5755 TG-5800-5840 SL-5685
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