The market opened higher but quickly came under profit taking. It has taken an intra day support at 4750 however; it
failed to breach an intra day highest levels 4827 (gap down levels), that has turned the sentiment down towards the
end. As the market failed to breach 4827 level twice a time during the day it seems that the supply is still on 4820/
40 levels.
Today, it may be possible that the market may try to retest 4840/16140 levels during the day and failure to hold will
lead to sharp sell off. On the lower side the market has major support in the region 4710/15750.
Nifty Strategy: Buy Nifty between 4715/4705 with an immediate target 4810 on the higher side. Keep a final stop loss
at 4680 for the same. In case the market opens higher and moves to 4830 levels then the strategy should be to sell
short between 4830 and 40 with a tight stop loss at 4860 as on the lower side the market may even fall to previous
lows 4675.
failed to breach an intra day highest levels 4827 (gap down levels), that has turned the sentiment down towards the
end. As the market failed to breach 4827 level twice a time during the day it seems that the supply is still on 4820/
40 levels.
Today, it may be possible that the market may try to retest 4840/16140 levels during the day and failure to hold will
lead to sharp sell off. On the lower side the market has major support in the region 4710/15750.
Nifty Strategy: Buy Nifty between 4715/4705 with an immediate target 4810 on the higher side. Keep a final stop loss
at 4680 for the same. In case the market opens higher and moves to 4830 levels then the strategy should be to sell
short between 4830 and 40 with a tight stop loss at 4860 as on the lower side the market may even fall to previous
lows 4675.
