GOOD MORNING!!!
MARKETS GATHERED STRENGTH FROM THE STRONG US CLOSING AND SANGUINE ASIAN MARKETS TO POST A STRONG OPENING WITH A GAP UP TRADE AND CONTINUED TO SUSTAIN THE SAME LEVELS ALMOST TILL THE LAST HOUR OF TRADE HOWEVER, THE RELIEF RALLY FIZZLED OUT BY THE END OF TRADE AS INVESTORS RESORTED TO HEFTY PROFIT BOOKING AND EVENTUALLY PARED MOST OF THE INTRA-DAY GAINS TO FINISH THE DAY WITH MARGINAL GAINS, AROUND THE CRUCIAL SUPPORTS.. HOPES OF THE PULLBACK RALLY FOR THE MARKETS GOT SHATTERED AS MANY FRONTEND STOCKS SAW SHORT COVERING THE OPENING SESSION TILL AFTERNOON LATER LOST THE GROUND IN THE LATE HOURS. THOUGH MARKETS HELD ITS NERVE TILL THE LAST HALF AN HOURS IT SEEMED AS IF BEARS WERE ONLY PERSONS TO HAVE THE LAST ON THE MARKETS AS THEY STALLED THE RESURGE IN THE LAST HALF AN HOUR TRADE.
TODAY NIFTY MAY OPEN FLAT TO NEGATIVE IF NIFTY TRADES BELOW 5410 THEN LIKELY TO COME DOWN TO 5377 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY FURTHER DOWN TO 5233 LEVELS ONE NEEDS TO HAVE A CAREFUL THOUGHT BEFORE TAKING LONG POSITIONS AND ANOTHER IMPORTANT NOTE IS IF NIFTY CLOSES BELOW 5400 WE CAN SEE ANOTHER 200 POINTS DOWNSIDE RALLY. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5450 THEN LIKELY TO MAKE AN UPMOVE TO 5470 AND THEN TO 5488 LEVELS ANY BREAK ABOVE 5500 WOULD TAKE NIFTY TO 5530 AND CLOSE ABOVE 5530 WOULD TURN MARKETS POSITIVE.
TODAY NIFTY MAY OPEN FLAT TO NEGATIVE IF NIFTY TRADES BELOW 5410 THEN LIKELY TO COME DOWN TO 5377 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY FURTHER DOWN TO 5233 LEVELS ONE NEEDS TO HAVE A CAREFUL THOUGHT BEFORE TAKING LONG POSITIONS AND ANOTHER IMPORTANT NOTE IS IF NIFTY CLOSES BELOW 5400 WE CAN SEE ANOTHER 200 POINTS DOWNSIDE RALLY. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5450 THEN LIKELY TO MAKE AN UPMOVE TO 5470 AND THEN TO 5488 LEVELS ANY BREAK ABOVE 5500 WOULD TAKE NIFTY TO 5530 AND CLOSE ABOVE 5530 WOULD TURN MARKETS POSITIVE.
