After breaking downward channel to the upside yesterday, Nifty fell into another downward channel with resistance at 5140. A sustained break above this will have target of 5165 and if Nifty manages above this then will have targets of 5200, 5250, 5300.
Nifty bounced twice taking support at 5100. If Nifty manages this support level it will form upward channel with Support around 5100 and resistance at 5165
In the event of failure at 5100 will have downside targets at 5050, 4980 and 4890
Nifty bounced twice taking support at 5100. If Nifty manages this support level it will form upward channel with Support around 5100 and resistance at 5165
In the event of failure at 5100 will have downside targets at 5050, 4980 and 4890
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