Friday, April 22, 2016

Nifty Analysis for 22 Apr 16

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Nifty Analysis for 22 April

I have been maintaining bearish stance for this week so far. Symptoms of it are evident on the charts. For the day interntaitonal markets are suggesting trading with mixed cues. US markets closed negative yesterday.

For the day expect sideways with negative bias or a fall in Nifty.

7972 resistance is working here. Don’t go long.

New resistance formed near 7931-7948 range.
Aggressive traders can short near resistance.


Nifty 60 min Chart



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