Support/Resistance levels indicated were respected on 30th August.
At the first look, Nifty seemed like closed above 200EMA and everything going to be positive. But when observed in details, it is learnt that there are warning signal in the form of, MAs not yet crossed +ve. Hence sustained break above 5310 is must for Nifty on 31st to be able resume its upward momentum.
Support Levels: 5295, 5270, 5250, 5190 (Sustained close below 5190 is Bearish for medium term)
Resistance Levels: 5323, 5350 and 5385 (Sustained close above 5385 is bullish for short term)
At the first look, Nifty seemed like closed above 200EMA and everything going to be positive. But when observed in details, it is learnt that there are warning signal in the form of, MAs not yet crossed +ve. Hence sustained break above 5310 is must for Nifty on 31st to be able resume its upward momentum.
Support Levels: 5295, 5270, 5250, 5190 (Sustained close below 5190 is Bearish for medium term)
Resistance Levels: 5323, 5350 and 5385 (Sustained close above 5385 is bullish for short term)
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