Nifty ready for trending move, EOD Analysis

Friday, November 25 Leave a Comment

As discussed in last analysis   Holding 7916 we might has formed a short term bottom and see rally till 8130/8270. Bulls on close above 8010 can see fast move towards 8060/8100 in next 2 session. Bears will get active below 7900 and in between 7900-8010 it will be volatile expiry moves.  High made today was 8055 and closed above 8010 suggesting bulls are getting their foot back but we need a weekly close above 8010 to presume short term bottom is in place. Above 8060 we can see quick move towards 8100/8130. Bearish only on close below 7900 in between  7900-8010 choppy move continues Nifty failed to move the followup move above 8010 and also closed below 8010 yesterday, As seen in below chart nifty is near gunner support of both horizontal and vertical line indicated a trending move round the corner, Bulls will get active above 8010, for a move towards 8060/8130 and bears below 7890 in between choppy move continues.  Bank Nifty again trading near gann support zone,EOD Analysis

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