Expectation still on!!!
Markets are not letting out to guess any direction. Friday, immediately after making new high, market fell down on back of IIP data. But open interest on Nifty suggest, still long position is built on every possible dips.
Look on to this chart :
Look on to this chart. Almost this pattern suggest a formation of Ascending Triangle. It is consider to be bullish and break out may fetch us around 10% of gain. But it will not be an easy job for bulls to break the resistance level of 5200. So i advise friends not to take any advance position expecting a particular direction. Let the market to decide it's direction and position taken after that will be profitable.
Nifty spot levels for this week :
Again i repeat, don't try to find a direction. Until then concentrate scripts for better returns.
Look on to this chart :
Look on to this chart. Almost this pattern suggest a formation of Ascending Triangle. It is consider to be bullish and break out may fetch us around 10% of gain. But it will not be an easy job for bulls to break the resistance level of 5200. So i advise friends not to take any advance position expecting a particular direction. Let the market to decide it's direction and position taken after that will be profitable.
Nifty spot levels for this week :
5033 - 5050 - 5078 - 5111 - 5149 - 5170 - 5190
Again i repeat, don't try to find a direction. Until then concentrate scripts for better returns.
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