NIFTY TRENDS AND TRADING STRATEGY

Nifty closed negative at 5362.95, lower by 17.40 points or ‐0.32%, as persistent profit booking in index heavyweight turned sentiments negative amid rising crude oil
prices. Nifty has formed a dark cloud cover candle with no upper shadows on daily charts indicating sustained selling at higher levels, and at same time index has
also closed at the channel line support placed at 5,350 levels. Decisive closing below 5,350 indicates that Nifty is likely to remain under selling pressure which would
lead the index downwards towards 5300‐5250. On the up side sustain buying above the 5,380 mark will see follow up buying towards 5,420‐5,460.

Trading strategy
would be to Sell if market resist at 5,380 and Buy if support at 5,330. First resistance for the Nifty is 5,384 and next resistance 5,404 and first support for the Nifty is
5,350 and next support at 5,336.

*** TRADE AT YOUR OWN RISK AND LIABILITY , READ DISCALIMER

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