NIFTY (SPOT) UPDATE WITH FRESH LEVELS:
RECAP:
=> NIFTY CORRECTED FROM 5972/6015 (MAJOR RESISTANCE ZONE)
=> CORRECTION REACHED TO EXTENDED SUPPORT BAND 5784/5810 (MADE A LOW AT 5791)
=> AND....BOUNCED FROM THE SAME AS ANTICIPATED..
FRESH UPDATE:
==>> CURRENT BOUNCE NIFTY IS NOW LIKELY TO TEST IMMEDIATE RESISTANCES AT 5902/10 & AT 5932/35.
FAILURE IN CROSSING THESE IS
LIKELY TO OPEN NEXT DOWNWARD LEG TOWARDS 5850---5784/5810---5660/5708.
ANY FURTHER BREAKDOWN WILL OPEN 5435/5545 LEVELS AS TARGETS....AND THIS
BAND IS CRUCIAL FROM LONG TERM TREND'S POINT OF VIEW.
==>>
CLOSING BASIS VOLUME CROSSOVER IS LIKELY TO ALLOW INDEX TO TEST ALL
CRUCIAL UPSIDE HURDLES 5972/6015/35--6112 (IF OTHERS GET BREACHED
DECISIVELY). ALSO....SUCH ACTION IS LIKELY TO CHANGE COUNTS TO SOME
EXTENT AND FRESH LEVELS TO UNFOLD FOR NIFTY IN NEAR FUTURE. ABOVE 6112,
BOTH SHORT AND MID TERM TREND TO TURN BULLISH...
